Innolux Corporation Announces Unaudited 2015 Second Quarter Net Income NT$5.4 Billion and EPS NT$0.54

Jul 30, 2015, 04:42 ET from Innolux Corporation

MIAOLI, July 30, 2015 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 2Q 2015 consolidated revenues. Combined net sales for 2Q 2015 amounted to NT$ 93.8 billion, gross profit was NT$ 15.6 billion, for a gross margin of 16.6%. Operating profit totaled NT$ 9.4 billion with an operating margin of 10%. Net profit amounted to NT$ 5.4 billion, for a net profit margin of 5.8%. EBITDA margin of 24.7%, EPS equaled NT$ 0.54.   

In finance, the company's total debt came down to NT$68.1 billion, a decrease of NT$11.3billion over the previous quarter. Net debt to equity ratio came down to 12% from 17% in the previous quarter, from 64% year over year.

The Company shipped 7.24 million square meters of panel in the second quarter 2015, an increase of 3.2% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 417 per square meter. Small and medium-sized panel revenue amounted to NT$ 16.5 billion in the second quarter 2015, a decrease of 11.8% over the previous quarter. The company shipped 44.8 million square meter area of small and medium-sized during the second quarter 2015, an increase of 1.3% over the previous quarter.

In terms of product application, CP, Mobile PC & Tablet, Desktop monitor, LCD TV panels accounted for 20%, 13%, 10% and 57% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 30-to-40-inch, 40-inch-and -above panels accounted for 18%, 17%, 20%, 2%, and 43% of our net sales, respectively.

INX Unaudited 2Q 2015 Income Statement - QoQ Comparison

Units: NTD million except per share data

2Q 2015

1Q 2015

QoQ%

2Q 2014

Net Sales

93,755


100,158

100.0%

-6.4%

111,064

100.0%

   Cost of Goods Sold

78,173

83.4%

82,404

82.3%

-5.1%

99,470

89.6%

Gross Profit (Loss)

15,583

16.6%

17,754

17.7%

-12.2%

11,595

10.4%

    Operating Expense

6,190

6.6%

6,523

6.5%

-5.1%

5,460

4.9%

Operating Income (Loss)

9,393

10.0%

11,231

11.2%

-16.4%

6,134

5.5%

Net Non-operating Income(Exp.)

(2,047)

-2.2%

(1,170)

-1.2%

-

(2,723)

-2.5%

Income before Tax

7,345

7.8%

10,061

10.0%

-27.0%

3,411

3.1%

EBITDA(3)

23,123

24.7%

25,381

25.3%

-8.9%

21,559

19.4%

Net Income (Loss)

5,406

5.8%

8,651

8.6%

-37.5%

3,010

2.7%

Net Income (Loss)-Parent

5,406

5.8%

8,651

8.6%

-37.5%

3,011

2.7%

Basic EPS (1)(2)

0.54


0.87



0.33


Notes:

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

(2) Capital Stock (common): NT$99.54 billion as of June 30,2015

(3) EBITDA = Operation Income + Depreciation & Amortization

(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).

(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.

 

INX Unaudited 2Q 2015 Balance Sheet

Units: NT$ million

2015.6.30

2015.3.31

2014.6.30

Cash & Short Term Investment

40,724

39,111

23,440

Inventory

33,221

33,302

45,738

Total Assets

401,083

422,985

463,078

Short Term Debt (1)

16,355

27,716

84,972

Long Term Debt (2)

51,790

51,765

63,907

Shareholders' Equity (3)

236,085

234,970

195,085

Net Debt to Shareholders' Equity

12%

17%

64%





Depreciation & Amortization

13,731

14,150

15,425

Capital Expenditure

3,783

6,609

4,668

 

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 + obligations under capital leases)

(3) Capital Stock (common): NT$99.54 billion; Book value per common stock: NT$ 23.72 as of June 30,2015

(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).

(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.

 

Announcement Contact:


Jyh-Chau Wang                                                                   

Anita Chien

Spokesperson                                                           

Media Contact

Tel: +886-(0)6-505-3760                                           

Tel: +886-(0)6-505-1888 ext.47153

Email: ir@innolux.com                                              

Cell: +886-(0)911-572-225


Email: anita.chien@innolux.com

SOURCE Innolux Corporation