Chimei Innolux Corporation Announces Unaudited Fourth Quarter 2010
TFT-LCD Related Net Sales of NT$ 130 Billion
JHUNAN, Taiwan, March. 10, 2011 /PRNewswire-Asia-FirstCall/ -- Chimei Innolux Corporation (CMI) (TAIEX: 3481) today announced its combined fourth quarter 2010 TFT-LCD net sales of NT$ 130,389 million, a 4.9% decrease over the previous quarter's NT$ 137,048 million. Gross loss was NT$ 9,633 million, for a gross margin of -7.4%. Operating loss totaled NT$ 17,797 million with an operating margin of -13.6%. Net loss attributable to the shareholders of the parent company amounted to NT$ 24,127 million. EPS equaled NT$ -3.79.
CMI with TFT Subsidiaries 4Q 2010 Income Statement - QoQ Comparison |
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NT$ million |
4Q10 |
% of |
3Q10 |
% of |
QoQ % |
||||
Except Per Share Data |
Revenue |
Revenue |
Change |
||||||
Net Sales |
130,389 |
100.0% |
137,048 |
100.0% |
-4.9% |
||||
Cost of Goods Sold |
-140,022 |
-107.4% |
-133,320 |
-97.3% |
5.0% |
||||
Gross Profit |
-9,633 |
-7.4% |
3,728 |
2.7% |
- |
||||
Operating Expenses |
-8,164 |
-6.3% |
-7,577 |
-5.5% |
7.7% |
||||
Operating Income |
-17,797 |
-13.6% |
-3,849 |
-2.8% |
362.4% |
||||
Net Non-operating Income (Exp.)(1) |
-6,873 |
-5.3% |
-814 |
-0.6% |
744.3% |
||||
Income before Tax |
24,670 |
-18.9% |
-4,663 |
-3.4% |
429.1% |
||||
EBITDA(2) |
6,396 |
4.9% |
20,488 |
14.9% |
-68.8% |
||||
Net Income |
-24,128 |
-18.5% |
-3,636 |
-2.7% |
563.6% |
||||
Net Income - Parent |
-24,127 |
-18.5% |
-3635 |
-2.7% |
563.7% |
||||
|
Basic EPS (NT$)(3) |
-3.79 |
|
|
-0.80 |
|
|
|
|
Notes: (1) CMI has provisionized NT$6,697 million for charges related to the anti-trust litigation. Figures may be subject to further adjustment, if necessary. (2) EBITDA = Operating Income + Depreciation & Amortization (3) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares (4) All figures are unaudited, prepared by Chimei Innolux Corporation |
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CMI with TFT Subsidiaries 2010 Income Statement - YoY Comparison |
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NT$ million |
2010(1) |
% of |
2009 |
% of |
YoY % |
||||
Except Per Share Data |
Revenue |
Revenue |
Change |
||||||
Net Sales |
480,044 |
100.0% |
164,726 |
100.0% |
191.4% |
||||
Cost of Goods Sold |
-460,424 |
-95.9% |
-160,509 |
-97.4% |
186.9% |
||||
Gross Profit |
19,620 |
4.1% |
4,217 |
2.6% |
365.3% |
||||
Operating Expenses |
-25,719 |
-5.4% |
-7,672 |
-4.7% |
235.2% |
||||
Operating Income |
-6,099 |
-1.3% |
-3,455 |
-2.1% |
76.5% |
||||
Net Non-operating Income (Exp.)(2) |
-8,060 |
-1.7% |
223 |
0.1% |
- |
||||
Income before Tax |
-14,159 |
-2.9% |
-3,232 |
-2.0% |
338.1% |
||||
EBITDA(3) |
72,036 |
15.0% |
7,928 |
4.8% |
808.6% |
||||
Net Income |
-14,840 |
-3.1% |
-2,397 |
-1.5% |
519.1% |
||||
Net Income - Parent |
-14,835 |
-3.1% |
-2,397 |
-1.5% |
518.9% |
||||
|
Basic EPS (NT$)(4) |
-2.29 |
|
|
-0.74 |
|
|
|
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Notes: (1) CMI was formed on March 18, 2010 through the merger of Innolux Display Corporation ("INL"), Chi Mei Optoelectronics ("CMO") and TPO Displays Corporation ("TPO") (2) CMI has provisionized NT$6,697 million for charges related to the anti-trust litigation. Figures may be subject to further adjustment, if necessary. (3) EBITDA = Operating Income + Depreciation & Amortization (4) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares (5) All figures are unaudited, prepared by Chimei Innolux Corporation |
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CMI with TFT Subsidiaries 4Q 2010 Balance Sheet |
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NT$ million |
4Q10 |
3Q10 |
4Q09 |
|
Cash & Short Term Investment |
58,998 |
64,566 |
36,510 |
|
Inventory |
61,579 |
59,815 |
20,921 |
|
Total Assets |
698,315 |
715,069 |
180,566 |
|
Short Term Debt (1) |
108,385 |
118,341 |
16,145 |
|
Long Term Debt(2) |
179,726 |
173,139 |
30,398 |
|
Shareholders' Equity (3) |
258,369 |
285,628 |
94,690 |
|
Net Debt to Shareholders' Equity |
88.7% |
79.4% |
10.6% |
|
|
|
|
||
Depreciation & Amortization |
24,193 |
24,337 |
3,127 |
|
Capital Expenditure |
24,067 |
25,664 |
7,587 |
|
Notes (1) Short term debt = (short-term bank loan + commercial papers + current portion of long term loan+ obligations under capital leases) (2) Long term debt = (long-term bank loan + corporate bonds + preferred shares + obligations under capital leases) (3) Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 35.33 (4) All figures are unaudited, prepared by Chimei Innolux Corporation |
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Announcement Contact: |
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Eddie Chen |
Loreta Chen |
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Spokesperson |
Public Relations |
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Tel: +886-06-505-3760 |
Tel: +886-06-505-1888 #11202 |
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Email: [email protected] |
Email: [email protected] |
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SOURCE Chimei Innolux Corporation
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