Chimei Innolux Corporation Announces Unaudited Second Quarter 2010 TFT-LCD Related Net Sales of NT$144.6 Billion
JHUNAN, Taiwan, Aug. 9 /PRNewswire-Asia-FirstCall/ -- Chimei Innolux Corporation (CMI) (TAIEX: 3481) today announced its combined second quarter 2010 TFT-LCD net sales of NT$144,629 million, a 113% increase over the previous quarter's NT$67,978 million. Gross profit was NT$18,505 million, for a gross margin of 12.8%. Operating income totaled NT$11,433 million with an operating margin of 7.9%. Net profit attributable to the shareholders of the parent company amounted to NT$9,540 million. EPS equaled NT$1.43.
CMI with TFT Subsidiaries 2Q 2010 Income Statement -- QoQ Comparison
NT$ million % of % of QoQ %
Except Per Share Data 2Q10 Revenue 1Q10(1) Revenue Change
Net Sales 144,629 100.0% 67,978 100.0% 113%
Cost of Goods Sold -126,124 -87.2% -60,958 -89.7% 107%
Gross Profit 18,505 12.8% 7,020 10.3% 164%
Operating Expenses -7,072 -4.9% -2,906 -4.3% 143%
Operating Income 11,433 7.9% 4,114 6.1% 178%
Net Non-operating Income
(Exp.) -311 -0.2% -62 -0.1% 402%
Income before Tax 11,122 7.7% 4,052 6.0% 174%
EBITDA(2) 34,866 24.1% 10,286 15.1% 239%
Net Income 9,538 6.6% 3,386 5.0% 182%
Net Income - Parent 9,540 6.6% 3,387 5.0% 182%
Basic EPS (NT$)(3) 1.43 -- 0.87 -- --
Notes:
(1) CMI was formed on March 18, 2010 through the merger of Innolux Display
Corporation ("INL"), Chi Mei Optoelectronics ("CMO") and TPO Displays
Corporation ("TPO")
(2) EBITDA = Operating Income + Depreciation & Amortization
(3) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common
Shares
(4) All figures are unaudited, prepared by Chimei Innolux Corporation
CMI with TFT Subsidiaries 2Q 2010 Balance Sheet
NT$ million 2Q10 1Q10(1)
Cash & Short Term Investment 58,777 73,557
Inventory 64,729 52,827
Total Assets 720,363 713,339
Short Term Debt(2) 101,117 80,579
Long Term Debt(3) 183,569 209,870
Shareholders' Equity(4) 289,467 279,670
Net Debt to Shareholders' Equity 78.0% 77.6%
Depreciation & Amortization 23,433 6,172
Capital Expenditure 25,542 12,120
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) Short term debt = (short-term bank loan + commercial papers + current
portion of long term loan + obligations under capital leases)
(3) Long term debt = (long-term bank loan + corporate bonds + preferred
shares + obligations under capital leases)
(4) Capital Stock (common): NT$73.12 billion; Book value per common stock:
NT$39.59
(5) All figures are unaudited, prepared by Chimei Innolux Corporation
Announcement Contact:
Eddie Chen
Spokesperson
Tel: +886-06-505-3760
Email: [email protected]
Loreta Chen
Public Relations
Tel: +886-06-505-1888 #11202
Email: [email protected]
SOURCE Chimei Innolux Corporation
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