Chimei Innolux Corporation Announces Unaudited Second Quarter 2011

TFT-LCD Related Net Sales of NT$ 122 Billion

News provided by

Aug 04, 2011, 03:36 ET

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

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: [email protected]	Email: [email protected]