2012/08/22
Coretronic Corporation Announces Second Quarter 2012 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the second quarter of 2012. For the second quarter ended June 30, 2012, Coretronic posted consolidated sales revenue of NT$17,975 million with an operating income of NT$277 million, up 9% and 56% QoQ respectively. Net income was reported at NT$268 million, up 12% QoQ. Net income attributable to equity holders of the parent company was NT$253 million with the basic EPS* of NT$0.35 per common share. For the first half of 2012, Coretronic reported consolidated sales revenue of NT$34,456 million and the operating income totaled NT$455 million with a net income of NT$507 million. Net income attributable to equity holders of the parent company was NT$463 million with the basic EPS* of NT$0.64 per common share.
“For the second quarter, Coretronic’s LCD BLU shipment was 17.2 million units, up 11% QoQ due mainly to 10% QoQ growth of the large size TV BLU shipment together with more than 50% QoQ strong demand from regular NB BLU business. The revenue in second quarter was NT$10,791 million representing 13% QoQ growth. The LED penetration rate for TV, Monitor and NB was 90%, 87% and 100% correspondingly in 2Q12. For 1H of 2012, LCD BLU revenue amounted to NT$20,374 million, up 2% YoY and shipment was 32.7 million units, drop 17% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 3Q12, Coretronic expects the NB BLU shipment will continue its increasing trend while the new tablet BLU models commence its mass production. The TV BLU demand is flat and the monitor BLU demand remain slow. As a result, we estimate single digit QoQ shipment growth in 3Q12.” said Sarah Lin.
“The sales revenue of Projector products was NT$3,707 million, drop 7% QoQ resulting from traditional slow season in the second quarter. The Projector shipment was 274K units in 2Q12, decreased 6% QoQ. For 1H of 2012, Projector revenue amounted to NT$7,687 million and shipment was 565K units.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. SY Chen points out that Coretronic will continuously enhance competitiveness of education and corporate market by short throw/ultra-short throw and SSI (solid state illumination) light sources such as LED/Laser to develop multimedia interactive technology and expanding into the system integration field. Besides, Coretronic will expand the product applications toward the development of display sharing, home entertainment and mobile projection. “Due to sluggish global economy, governments and corporate are tightening their budget expenditures. Coretronic expects the monthly shipment quantity is 80K~90K units in 3Q12. Coretronic targets to ship more than 1.2 million units in 2012.”
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (723m shares in 2Q12).
“For the second quarter, Coretronic’s LCD BLU shipment was 17.2 million units, up 11% QoQ due mainly to 10% QoQ growth of the large size TV BLU shipment together with more than 50% QoQ strong demand from regular NB BLU business. The revenue in second quarter was NT$10,791 million representing 13% QoQ growth. The LED penetration rate for TV, Monitor and NB was 90%, 87% and 100% correspondingly in 2Q12. For 1H of 2012, LCD BLU revenue amounted to NT$20,374 million, up 2% YoY and shipment was 32.7 million units, drop 17% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 3Q12, Coretronic expects the NB BLU shipment will continue its increasing trend while the new tablet BLU models commence its mass production. The TV BLU demand is flat and the monitor BLU demand remain slow. As a result, we estimate single digit QoQ shipment growth in 3Q12.” said Sarah Lin.
“The sales revenue of Projector products was NT$3,707 million, drop 7% QoQ resulting from traditional slow season in the second quarter. The Projector shipment was 274K units in 2Q12, decreased 6% QoQ. For 1H of 2012, Projector revenue amounted to NT$7,687 million and shipment was 565K units.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. SY Chen points out that Coretronic will continuously enhance competitiveness of education and corporate market by short throw/ultra-short throw and SSI (solid state illumination) light sources such as LED/Laser to develop multimedia interactive technology and expanding into the system integration field. Besides, Coretronic will expand the product applications toward the development of display sharing, home entertainment and mobile projection. “Due to sluggish global economy, governments and corporate are tightening their budget expenditures. Coretronic expects the monthly shipment quantity is 80K~90K units in 3Q12. Coretronic targets to ship more than 1.2 million units in 2012.”
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (723m shares in 2Q12).
