Chimei Innolux Corporation Announces Unaudited Second Quarter 2012 Net Sales of NT$ 112.5 Billion and Gross Margin of -1.7%

News provided by

Aug 07, 2012, 03:30 ET

JHUNAN, Taiwan, Aug. 7, 2012 /PRNewswire-Asia-FirstCall/ -- Chimei Innolux Corporation ("CMI") (TAIEX: 3481) today announced its second quarter 2012 results. Combined net sales for the second quarter 2012 amounted to NT$ 112,522 million, a 3% increase over the previous quarter's NT$ 109,236 million. Gross loss was NT$ 1,957 million, for a gross margin of -1.7%. Operating loss totaled NT$ 7,695 million with an operating margin of -6.8%. Net loss attributable to the shareholders of the parent company amounted to NT$ 9,565 million. EPS equaled NT$ -1.31.

CMI unaudited 2Q 2012 Income Statement - QoQ Comparison

NT$ million		2Q12	% Revenue	1Q12	% Revenue	QoQ %
Except Per Share Data		2Q12	% Revenue	1Q12	% Revenue	Change
Net Sales		112,522	100.0%	109,236	100.0%	3.0%
	Cost of Goods Sold	114,479	101.7%	116,060	106.2%	-1.4%
Gross Profit		(1,957)	-1.7%	(6,824)	-6.2%	-71.3%
	Operating Expenses	5,738	5.1%	5,305	4.9%	8.2%
Operating Income		(7,695)	-6.8%	(12,129)	-11.1%	-36.6%
Net Non-operating Income (Exp.)		(2,188)	-1.9%	(738)	-0.7%	196.5%
Income before Tax		(9,883)	-8.8%	(12,868)	-11.8%	-23.2%
EBITDA(1)		14,314	12.7%	9,954	9.1%	43.8%
Net Income		(9,567)	-8.5%	(12,765)	-11.7%	-25.1%
	Net Income-Parent	(9,565)	-8.5%	(12,766)	-11.7%	-25.1%
	Basic EPS (NT$)(2)	(1.31)		(1.75)

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.
(4) Combined results refer to results from other TFT-LCD related subsidiaries in which Chimei Innolux Corporation has 50% or more ownership, and already eliminates inter-company transactions between Chimei Innolux Corporation and these companies to avoid double-counting.

CMI unaudited 2Q 2012 Balance Sheet

NT$ million	2012.6.30	2012.3.31	2011.6.30
Cash & Short Term Investment	57,639	58,255	71,603
Inventory	61,104	60,986	68,799
Total Assets	636,783	643,862	723,790
Short Term Debt (1)	118,492	113,663	136,352
Long Term Debt (2)	205,647	215,495	208,794
Shareholders' Equity (3)	173,961	183,355	231,762
Net Debt to Shareholders' Equity	153.2%	147.7%	118.0%

Depreciation & Amortization	22,007	22,083	25,042
Capital Expenditure	3,290	3,399	10,589

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$23.79
(4) All figures are unaudited, prepared by Chimei Innolux Corporation.
(5) Combined results refer to results from other TFT-LCD related subsidiaries in which Chimei Innolux Corporation has 50% or more ownership, and already eliminates inter-company transactions between Chimei Innolux Corporation and these companies to avoid double-counting.

Announcement Contact:

Chen-Hui Lin	Anita Chien
Spokesperson	Media Contact
Tel: +886-(0)6-505-3760	Tel: +886-(0)6-505-1888 ext.47153
Cell: +886-(0)968-960-866	Cell: +886-(0)911-572-225
Email: [email protected]	Email: [email protected]