Innolux Corporation Announces Unaudited 2016 Second Quarter Gross profit NT$1.55 Billion
JHUNAN , Taiwan, July 29, 2016 /PRNewswire/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 2Q 2016 consolidated revenues. Combined net sales for 2Q 2016 amounted to NT$ 66.8 billion, gross profit was NT$ 1.55 billion, for a gross margin of 2.3%. Operating loss totaled NT$ 3 billion with an operating loss of 4.5%. Net loss amounted to NT$ 3.5 billion, for a net loss margin of 5.2%. EBITDA margin of 11.1%, with a basic EPS of -NT$ 0.35.
In finance, the company's total debt came down to NT$ 57.1 billion, an increase of NT$ 2.4 billion over the previous quarter. Net debt to equity ratio of 8% was the same as the previous quarter, maintaining good financial health. The inventory turnover day was 38 days.
The Company shipped 7 million square meters of panel in the second quarter 2016, an increase of 24.4% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 289 per square meter. Small and medium-sized panel revenue amounted to NT$ 13.1 billion in the second quarter 2016, an increase of 0.4% over the previous quarter. The company shipped 472.8 thousand square meter area of small and medium-sized during the second quarter 2016, an increase of 23.6% over the previous quarter.
In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 25%, 15%, 12% and 48% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 40-inch-and -above panels accounted for 20%, 20%, 15%, and 45% of our net sales, respectively.
Table 1: Statements of Comprehensive Income
|
Units: NTD million except per share data |
2Q 2016 |
1Q 2016 |
QoQ% |
2Q 2015 | |||
|
Net Sales |
66,805 |
100.0% |
56,417 |
100.0% |
18.4% |
93,755 |
100% |
|
Cost of Goods Sold |
65,251 |
97.7% |
60,455 |
107.2% |
7.9% |
78,173 |
83.4% |
|
Gross Profit (Loss) |
1,554 |
2.3% |
(4,038) |
-7.2% |
15,583 |
16.6% | |
|
Operating Expense |
4,592 |
6.9% |
4,365 |
7.7% |
5.2% |
6,190 |
6.6% |
|
Operating Income (Loss) |
(3,039) |
-4.5% |
(8,402) |
-14.9% |
9,393 |
10.0% | |
|
Net Non-operating Income(Exp.) |
168 |
0.3% |
(131) |
-0.2% |
(2,047) |
-2.2% | |
|
Income before Tax |
(2,871) |
-4.3% |
(8,534) |
-15.1% |
7,345 |
7.8% | |
|
EBITDA(3) |
7,408 |
11.1% |
3,046 |
5.4% |
143.2% |
23,123 |
24.7% |
|
Net Income (Loss) |
(3,476) |
-5.2% |
(8,582) |
-15.2% |
5,406 |
5.8% | |
|
Net Income (Loss)-Parent |
(3,476) |
-5.2% |
(8,582) |
-15.2% |
5,406 |
5.8% | |
|
Basic EPS (1)(2) |
(0.35) |
(0.86) |
0.54 |
||||
|
Notes: | |||||||
|
(1) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares | |||||||
|
(2) Capital Stock (common): NT$99.5 billion as of June 30,2016 | |||||||
|
(3) EBITDA = Operation Income + Depreciation & Amortization | |||||||
|
(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS). | |||||||
|
(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting. | |||||||
Table 2: Combined Balance Sheet Highlights
|
Units: NT$ million |
2016.6.30 |
2016.3.31 |
2015.6.30 |
|
Cash & Short Term Investment |
39,599 |
36,462 |
40,724 |
|
Inventory |
25,395 |
29,164 |
33,221 |
|
Total Assets |
349,288 |
351,258 |
401,083 |
|
Short Term Debt (1) |
21,612 |
19,251 |
16,355 |
|
Long Term Debt (2) |
35,468 |
35,445 |
51,790 |
|
Shareholders' Equity (3) |
214,685 |
222,810 |
236,085 |
|
Net Debt to Shareholders' Equity |
8% |
8% |
12% |
|
Depreciation & Amortization |
10,446 |
11,448 |
13,731 |
|
Capital Expenditure |
6,858 |
7,459 |
3,783 |
|
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$99.5 billion; Book value per common stock: NT$ 21.57 as of June 30,2016 | |||
|
(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
Spokesperson
Tel: +886-(0)6-505-3760
Email: [email protected]
Anita Chien
Media Contact
Tel: +886-(0)6-505-1888 ext.47153
Cell: +886-(0)911-572-225
Email: [email protected]
SOURCE Innolux Corporation
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