2013/02/27
Coretronic Corporation Announces Fourth Quarter 2012 Results
Coretronic Corporation (5371.TW) today announced its financial results for the fourth quarter of 2012. For the fourth quarter ended Dec. 31, 2012, Coretronic posted consolidated sales revenue of NT$16,572 million with an operating income of NT$275 million, drop 0.2% and up 0.7% QoQ respectively. Net income was reported at NT$284 million, up 7.2% QoQ. Net income attributable to equity holders of the parent company was NT$201 million with the basic EPS* of NT$0.28 per common share.
For the fiscal year of 2012, Coretronic reported consolidated sales revenue of NT$67,626 million and the operating income totaled NT$1,002 million with a net income of NT$1,055 million. Net income attributable to equity holders of the parent company was NT$890 million with the basic EPS* of NT$1.23 per common share.
“Due to TV and Tablet BLU new models mass production in the fourth quarter, Coretronic’s LCD BLU shipment was 18.5 million units, up 7% QoQ. The revenue in the fourth quarter was NT$9,419 million representing 3% QoQ decrease. For the fiscal year of 2012, LCD BLU shipment was 68.53 million units, up 9% YoY and revenue amounted to NT$39,525 million, drop 15% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Due to regular slow season in the first quarter and CNY holiday impact, we expect TV and NB BLU demand will decrease while Monitor and Tablet BLU will maintain the growth trend. Overall shipments estimate with slightly increase in 1Q13. Look into 2013, Coretronic forecasts the overall BLU shipment to increase more than 20% YoY.” said Sarah Lin.
“The shipment of Projector products was 258K units in 4Q12, up 2% QoQ, and the sales revenue was NT$3,438 million, drop 2% QoQ. This was resulting from governments and corporate tightening their budget expenditures caused by sluggish global economy. For the fiscal year ended 2012, Projector shipment was 1,077K units and the sales revenue amounted to NT$14,638 million, drop 13% and 18% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity is 65K~70K units in 1Q13.” Based on market research report, 2013 worldwide projector demand is estimated to increase by 4% to 8.3M units. According to SY Chen, Coretronic strategy will continuously focus and enhance the competitiveness of short throw/ultra-short throw and SSI (solid state illumination) light sources, such as LED/Laser, while aggressively approach education/large venue segment. It is expected around 10% YoY growth in shipments in 2013.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 4Q12 and 723m shares in 2012).
For the fiscal year of 2012, Coretronic reported consolidated sales revenue of NT$67,626 million and the operating income totaled NT$1,002 million with a net income of NT$1,055 million. Net income attributable to equity holders of the parent company was NT$890 million with the basic EPS* of NT$1.23 per common share.
“Due to TV and Tablet BLU new models mass production in the fourth quarter, Coretronic’s LCD BLU shipment was 18.5 million units, up 7% QoQ. The revenue in the fourth quarter was NT$9,419 million representing 3% QoQ decrease. For the fiscal year of 2012, LCD BLU shipment was 68.53 million units, up 9% YoY and revenue amounted to NT$39,525 million, drop 15% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Due to regular slow season in the first quarter and CNY holiday impact, we expect TV and NB BLU demand will decrease while Monitor and Tablet BLU will maintain the growth trend. Overall shipments estimate with slightly increase in 1Q13. Look into 2013, Coretronic forecasts the overall BLU shipment to increase more than 20% YoY.” said Sarah Lin.
“The shipment of Projector products was 258K units in 4Q12, up 2% QoQ, and the sales revenue was NT$3,438 million, drop 2% QoQ. This was resulting from governments and corporate tightening their budget expenditures caused by sluggish global economy. For the fiscal year ended 2012, Projector shipment was 1,077K units and the sales revenue amounted to NT$14,638 million, drop 13% and 18% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity is 65K~70K units in 1Q13.” Based on market research report, 2013 worldwide projector demand is estimated to increase by 4% to 8.3M units. According to SY Chen, Coretronic strategy will continuously focus and enhance the competitiveness of short throw/ultra-short throw and SSI (solid state illumination) light sources, such as LED/Laser, while aggressively approach education/large venue segment. It is expected around 10% YoY growth in shipments in 2013.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 4Q12 and 723m shares in 2012).
