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

Feb 26, 2013, 05:38 ET from Innolux Corporation

JHUNAN, Taiwan, Feb. 26, 2013 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX") (TAIEX: 3481) today announced its fourth quarter 2012 results. Combined net sales for the fourth quarter 2012 amounted to NT$ 129,603 million, flat to previous quarter's NT$ 129,552 million. Gross profit was NT$ 9,466 million, for a gross margin of 7.3%. Operating profit totaled NT$ 3,138 million with an operating margin of 2.4%. Net loss attributable to the shareholders of the parent company amounted to NT$ 3,218 million. EPS equaled NT$ -0.43.

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: ir@innolux.com

Email: anita.chien@innolux.com

SOURCE Innolux Corporation