Chimei Innolux Corporation Announces Unaudited Second Quarter 2011

TFT-LCD Related Net Sales of NT$ 122 Billion

Aug 04, 2011, 03:36 ET from Chimei Innolux Corporation

JHUNAN, Taiwan, Aug. 4, 2011 /PRNewswire-Asia-FirstCall/ -- Chimei Innolux Corporation (CMI) (TAIEX: 3481) today announced its combined second quarter 2011 TFT-LCD net sales of NT$ 121,696 million, a 2.1% decrease over the previous quarter's NT$ 124,327 million. Gross loss was NT$ 6,625 million, for a gross margin of -5.4%. Operating loss totaled NT$ 12,900 million with an operating margin of -10.6%. Net loss attributable to the shareholders of the parent company amounted to NT$ 13,010 million. EPS equaled NT$ -1.78.

CMI with TFT Subsidiaries 2Q 2011 Income Statement - QoQ Comparison

NT$ million

   2Q11


% of

1Q11


% of

QoQ %

Except Per Share Data

 

Revenue

 

Revenue

Change

Net Sales

121,696


100.0%

124,327


100.0%

(2.1%)

 Cost of Goods Sold

128,321


105.4%

130,958


105.3%

(2.0%)

Gross Profit

(6,625)


(5.4%)

(6,631)


(5.3%)

(0.1%)

 Operating Expenses

6,275


5.2%

6,916


5.6%

(9.3%)

Operating Income

(12,900)


(10.6%)

(13,547)


(10.9%)

(4.8%)

Net Non-operating Income (Exp.)

(602)


(0.5%)

(815)


(0.7%)

(26.1%)

Income before Tax

(13,502)


(11.1%)

(14,362)


(11.6%)

(6.0%)

EBITDA(1)

12,142


10.0%

11,539


9.3%

5.2%

Net Income

(13,013)


(10.7%)

(13,803)


(11.1%)

(5.7%)

 Net Income-Parent

(13,010)


(10.7%)

(13,804)


(11.1%)

(5.8%)

 Basic EPS (NT$)(2)

(1.78)

 

 

(1.89)

 

 

 

Notes:

(1) EBITDA = Operating Income + Depreciation & Amortization

(2) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares

(3) All figures are unaudited, prepared by Chimei Innolux Corporation




CMI with TFT Subsidiaries 2Q 2011 Balance Sheet

NT$ million

2Q11

1Q11

2Q10

Cash & Short Term Investment

71,603

52,727

58,777

Inventory

68,797

67,691

64,729

Total Assets

711,175

707,736

720,363

Short Term Debt (1)

136,352

104,772

101,117

Long Term Debt(2)

208,794

207,027

183,569

Shareholders' Equity (3)

231,762

246,391

289,467

Net Debt to Shareholders' Equity

118.0%

105.1%

78.0%

 




Depreciation & Amortization

25,042

25,086

23,433

Capital Expenditure

10,681

15,061

25,542





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$73.13 billion; Book value per common stock: NT$ 31.69

(4) All figures are unaudited, prepared by Chimei Innolux Corporation




Announcement Contact:


Eddie Chen

Loreta Chen

Spokesperson

Public Relations

Tel: +886-06-505-3760

Tel: +886-06-505-1888 #47151

Email: ir@chimei-innolux.com

Email: loreta.chen@chimei-innolux.com



SOURCE Chimei Innolux Corporation