Innolux Corporation Announces Unaudited Fourth Quarter 2012 Net Sales of NT$ 129.6 Billion and Gross Margin of 7.3%

INX 4Q 2012 Combined Income Statement – QoQ 

Units: NTD million except per share data

4Q 2012

3Q 2012

QoQ%

4Q 2011

Net Sales

129,603

129,552

0.0%

130,409

   Cost of Goods Sold 

120,137

92.7%

125,306

96.7%

-4.1%

141,073

108.2%

Gross Profit (Loss)

9,466

7.3%

4,246

3.3%

122.9%

-10,664

-8.2%

    Operating Expense

6,328

4.9%

6,460

5.0%

-2.0%

6,539

5.0%

Operating Income (Loss)

3,138

2.4%

-2,214

-1.7%

-

-17,202

-13.2%

Net Non-operating Income(Exp.)

-6,389

-4.9%

-1,655

-1.3%

-4,693

-3.6%

Income before Tax

-3,251

-2.5%

-3,869

-3.0%

-21,895

-16.8%

EBITDA⁽¹⁾

23,876

18.4%

18,860

14.6%

26.6%

5,753

4.4%

Net Income (Loss)

-3,219

-2.5%

-3,720

-2.9%

-

-19,988

-15.3%

Net Income (Loss)-Parent

-3,218

-2.5%

-3,721

-2.9%

-

-19,992

-15.3%

Basic EPS ⁽²⁾

-0.43

-0.51

-2.73

Notes

(1) EBITDA = Operating Income + Depreciation & Amortization

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

(3) Capital Stock (common): NT$79.13 billion 

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

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

INX 2012 Combined Income Statement – YoY

NT$ million 

2012

2011

Except Per Share Data

YoY %

Net Sales

480,913

501,135

-4.0%

   Cost of Goods Sold               

475,982

99.0%

537,383

107.2%

-11.4%

Gross Profit

4,931

1.0%

-36,248

-7.2%

-

   Operating Expenses

23,831

5.0%

26,750

5.3%

-10.9%

Operating Income

-18,900

-3.9%

-62,998

-12.6%

-

Net Non-operating Income (Exp.)

-10,970

-2.3%

-6,505

-1.3%

-

Income before Tax

-29,871

-6.2%

-69,503

-13.9%

-

EBITDA⁽¹⁾

67,004

13.9%

34,760

6.9%

92.8%

Net Income

-29,271

-6.1%

-64,440

-12.9%

-

   Net Income-Parent

-29,270

-6.1%

-64,440

-12.9%

-

   Basic EPS (NT$)⁽²⁾

-4.04

-8.76

Notes

(1) EBITDA = Operating Income + Depreciation & Amortization

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

(3) Capital Stock (common): NT$79.13 billion 

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

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

INX 4Q 2012 Combined Balance Sheet Highlights

NT$ million

2012.12.31

2012.9.30

2011.12.31

Cash & Short Term Investment

39,056

52,672

59,449

Inventory

42,035

50,304

59,540

Total Assets

574,689

599,093

668,479

Short Term Debt ⁽¹⁾

117,183

88,635

275,081

Long Term Debt ⁽²⁾

152,100

199,316

49,377

Shareholders' Equity ⁽³⁾

170,547

175,134

196,181

Net Debt to Shareholders' Equity

135.0%

134.3%

135.1%

Depreciation & Amortization

20,738

21,076

22,955

Capital Expenditure

5,882

4,567

8,736

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$79.13 billion; Book value per common stock: NT$ 21.55

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

(5) Combined figures presented refer to results from other TFT-LCD related subsidiaries in which Innolux Corporation has 50% or more ownership, and already eliminates inter-company transactions between 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]