2013/08/09
Coretronic Corporation Announces Second Quarter 2013 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the second quarter of 2013. For the second quarter ended June 30, 2013, Coretronic posted consolidated sales revenue of NT$17,667 million with an operating income of NT$478 million, up 12% and 7% QoQ respectively. Net income was reported at NT$386 million, up 0.3% QoQ. Net income attributable to equity holders of the parent company was NT$363 million with the basic EPS* of NT$0.50 per common share. For the first half of 2013, Coretronic reported consolidated sales revenue of NT$33,415 million and the operating income totaled NT$926 million with a net income of NT$771 million. Net income attributable to equity holders of the parent company was NT$716 million with the basic EPS* of NT$0.99 per common share.
“For the second quarter, Coretronic’s LCD BLU shipment was 17.6 million units, drop 5% QoQ due mainly to the Tablet BLU shipment decrease 47% QoQ resulted from the ongoing product transition. Meanwhile, the TV and Monitor BLU shipment were with 40% and 2% QoQ growth respectively. The revenue in the second quarter was NT$12,001 million representing 18% QoQ increase, thanks to the TV BLU shipment with 92% QoQ revenue growth. For 1H of 2013, LCD BLU shipment was 36.04 million units and revenue amounted to NT$22,204 million, up 10% and 9% respectively.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 3Q13, Coretronic expects the TV BLU shipment will continue its increasing trend while the Tablet BLU with strong growth due to new model mass production. The Monitor BLU demand is flat and the NB BLU market remain slow. As a result, we estimate around 10% QoQ shipment growth in 3Q13.” said Sarah Lin.
“For 2Q13, the shipment of Projector products was 229K units and the sales revenue was NT$3,217 million, up 16% and 25% QoQ respectively. For 1H of 2013, Projector shipment was 426K units and revenue amounted to NT$5,784 million, drop 25% YoY respectively. This was resulting from traditional slow season and sluggish global economy in the first half.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. SY Chen points out that in the second half, the traditional peak season, Coretronic will actively cooperate with customers to focus on the China and emerging education market. In addition, a series of SSI (solid state illumination) light sources (LED/Laser) projectors will be launched in the second half with gradually growth. Therefore, Coretronic expects the monthly shipment quantity is 90K~100K units in 3Q13, representing 25% QoQ growth.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 2Q13 and 1Q13 respectively).
“For the second quarter, Coretronic’s LCD BLU shipment was 17.6 million units, drop 5% QoQ due mainly to the Tablet BLU shipment decrease 47% QoQ resulted from the ongoing product transition. Meanwhile, the TV and Monitor BLU shipment were with 40% and 2% QoQ growth respectively. The revenue in the second quarter was NT$12,001 million representing 18% QoQ increase, thanks to the TV BLU shipment with 92% QoQ revenue growth. For 1H of 2013, LCD BLU shipment was 36.04 million units and revenue amounted to NT$22,204 million, up 10% and 9% respectively.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 3Q13, Coretronic expects the TV BLU shipment will continue its increasing trend while the Tablet BLU with strong growth due to new model mass production. The Monitor BLU demand is flat and the NB BLU market remain slow. As a result, we estimate around 10% QoQ shipment growth in 3Q13.” said Sarah Lin.
“For 2Q13, the shipment of Projector products was 229K units and the sales revenue was NT$3,217 million, up 16% and 25% QoQ respectively. For 1H of 2013, Projector shipment was 426K units and revenue amounted to NT$5,784 million, drop 25% YoY respectively. This was resulting from traditional slow season and sluggish global economy in the first half.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. SY Chen points out that in the second half, the traditional peak season, Coretronic will actively cooperate with customers to focus on the China and emerging education market. In addition, a series of SSI (solid state illumination) light sources (LED/Laser) projectors will be launched in the second half with gradually growth. Therefore, Coretronic expects the monthly shipment quantity is 90K~100K units in 3Q13, representing 25% QoQ growth.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 2Q13 and 1Q13 respectively).
