HSINCHU, Taiwan, July 23 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced unaudited results for 2Q2009. AUO posted second-quarter consolidated revenue of NT$82.5 billion (US$2.5 billion), net loss of NT$6.6 billion (US$ 201 million), and net loss attributable to equity holders of the parent company NT$6.8 billion (US$208 million). This represented an EPS of NT$ -0.80 per common share (US$ -0.24 per ADR unit), substantially improved from an EPS of NT$ -2.39 a quarter ago.

As for the first half of 2009, AUO reported consolidated revenues of NT$133.2 billion (US$4.1 billion), net loss of NT$26.8 billion (US$818 million), and basic EPS of NT$ -3.19 per common share (US$ -0.97 per ADR.)

    Second Quarter Result Highlights
    -- Revenue of NT$82.5 billion, up 62.6% remarkably
    -- Net loss of NT$6.6 billion (EPS of NT$ -0.80 per common share)
    -- Gross margin of 1.4%
    -- Operating margin of -5.4%
    -- EBITDA (*) margin of 21.5%

In the second quarter of 2009, AUO beat Q2 guidance and shipped 22.4 million of large-sized panels and 60.8 million units of small- and medium-sized panels, up 70.4% and 41.7% QoQ, respectively. For the first half of 2009, AUO large-sized panels totaled 35.6 million units and small- and medium-sized panels grew considerably to 103.8 million units.

"Driven by much better end demand, our operating results improved significantly from previous quarter. Supported by better average selling price, higher utilization rates, and continuous efforts on cost reduction, the Company was able to turn profitable on gross margins," said Mr. Andy Yang, Chief Financial Officer of AUO. "As a result, the EBITDA (*) margin rose sharply to 21.5%, compared to 1.7% a quarter ago. Our Inventory Turnover Days was also maintained at historical low level of 32 days.

"Thanks to the strong supports from our customers, vendors and AUO employees, the Company was able to timely sharpen itself in the downturn and further strengthen its competitiveness amid the macroeconomic challenges," highlighted Dr. L.J. Chen, President and CEO of AUO.

"On top of the ongoing efforts on the environmental-friendly products, AUO will continue to develop in new technology and high-value products, such as E-paper or E-labels," added Dr. Chen. "In addition, we have started investing in solar PV and expect energy business to serve as an additional growth driver in the future, truly making the Company as a global leader in green solutions."

    (*) EBITDA=Operating Income +D&A

    * Amounts converted by an exchange rate of NTD32.77:USD1 as of June 30,
      2009.
    * All financial information was unaudited and was prepared by the Company
      in accordance with generally accepted accounting principles in Taiwan
      ("ROC GAAP")

ABOUT AU OPTRONICS

AU Optronics Corp. (AUO) is the worldwide top 3 manufacturer* of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches. AUO generated NT$423.9 billion (US$12.9 billion) in sales revenue in 2008 and now houses a staff of more than 40,000 employees throughout its global operations spreading across Taiwan, Mainland China, Japan, Singapore, South Korea, the U.S., and Europe. Additionally, AUO is the first pure TFT-LCD manufacturer to successfully list at the New York Stock Exchange (NYSE). For more information, please visit AUO.com.

    * DisplaySearch 4Q2008 WW Large-Area TFT-LCD Shipment Report dated
      February 25, 2009. This data is used as reference only and AUO does not
      make any endorsement or representation in connection therewith. 2008
      year end revenue converted by an exchange rate of NTD32.76:USD1.

Safe Harbour Notice

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), the worldwide top three manufacturer of large-size TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on May 27th, 2009.

SOURCE AU Optronics Corp.

Back to top

RELATED LINKS
http://www.auo.com