AU Optronics Corp. Reports 4Q2011 Financial Results

HSINCHU, Taiwan, Feb. 8, 2012 /PRNewswire-Asia-FirstCall/ -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today held its investors conference and announced its unaudited results for the fourth quarter of 2011(1).

AUO posted consolidated revenue of NT$89,505 million (US$2,957 million)(2), down 9.5% from the previous quarter. Gross profit was -NT$10,293 million (-US$340 million), with the gross margin of -11.5%. Operating loss was NT$17,494 million (US$578 million), with the operating margin of -19.5%. AUO's net loss for the fourth quarter was NT$20,986 million (US$693 million). Net loss attributable to equity holders of the parent company was NT$20,675 million (US$683 million), with basic EPS of -NT$2.34 per common share (-US$0.77 per ADR).

4Q2011 Result Highlights

• AUO's unaudited consolidated results for the fourth quarter of 2011 were highlighted as below:
• Revenue was NT$89,505 million, down 9.5% quarter-over-quarter
• Net loss was NT$20,986 million
• Basic EPS was -NT$2.34 per common share
• Gross margin was -11.5%
• Operating margin was -19.5%
• EBITDA(3) margin was 4.6%

"Facing macro-economical uncertainties and experiencing a transitional period of product and technological adjustments, our operating performance in the fourth quarter fell short of expectations. Nonetheless, with a solid financial structure, the Company still continued to generate positive cash flows from our core business," said Mr. Andy Yang, Chief Financial Officer of AUO. "AUO's management team will more proactively control our cash flows as well as capital expenditures, and meanwhile continue investing for technological upgrade and cost improvement."

Looking into 2012, panel demands are expected to gradually recover, and our capacity utilization rates are also expected to improve quarter over quarter. Over the past year, AUO has dedicated itself to the technological developments, and went through learning curves and yield challenges. By means of product and technological upgrades, the management team will continue to optimize product portfolio, seeking to enhance the Company's value of capacity and earnings performance.

ABOUT AU OPTRONICS

AU Optronics Corp. (AUO) is one of the world's leading providers of display and solar total solutions. AUO offers a full range of panel sizes and comprehensive applications ranging from 1.2 inches to 71 inches. Based on its profound R&D and manufacturing experience, AUO continues to develop advanced display technologies of the next generation. AUO extended its market to the green energy industry in 2008. By building a vertically integrated high-efficiency solar value chain, AUO provides its customers with high-efficiency solar solutions. AUO currently has global operations in Taiwan, Mainland China, the U.S., Japan, South Korea, Singapore, the Netherlands, Czech and Slovakia. Additionally, AUO is the first pure TFT-LCD manufacturer to be successfully listed at the New York Stock Exchange (NYSE). AUO has also been named to Dow Jones Sustainability World Index for two consecutive years from 2010 to 2011. AUO generated NT$379.7 billion (US$ 12.54 billion) in sales revenue in 2011. For more information, please visit AUO.com.

* 2011 year end revenue converted at an exchange rate of NTD30.27:USD1.

Safe Harbour Notice

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of 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 of 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 3rd, 2011.

SOURCE AU Optronics Corporation