2010/02/25
Coretronic Corporation Announces Fourth Quarter 2009 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the fourth quarter ended December 31, 2009. For the fourth quarter of 2009, Coretronic’s consolidated sales revenue amounted to NT$24,874 million with an operating income of NT$1,403 million, up 18% and 203% QoQ respectively. Net income was reported at NT$1,121 million, up 25% QoQ, attributable to equity holders of the parent company NT$1,024 million, up 21% QoQ, with the basic EPS* reported at NT$1.42 per common share. For the fiscal year ended 2009, consolidated sales revenue registered at NT$77,425 million and operating income totaled NT$2,965 million with a net income of NT$2,730 million. Net income attributable to equity holders of the parent company was NT$2,677 million, with the basic EPS* reported at NT$3.72 per common share.
“For LCD Backlight, combined China sales revenue in 4Q09 amounted to NT$16,716 million and shipment was 20.17 million units, up 19% and 4% QoQ respectively,due mainly to the better product mix. The high-end LED monitor BLU contributed significantly to the growth in 4Q09, with the penetration rate increasing to 20% as compared with 5% in 3Q09. The NB BLU shipment, as expected, posted 15% growth QoQ reflecting the strong seasonality. For the fiscal year ended 2009, combined China sales revenue amounted to NT$49,097 million and shipment was 65.64 million units, both up 5% YoY ” said Mr. Fred Huang, President of Backlight Business Group of Coretronic. “The demand from LCD TV BLU in 1Q10 will decline as a result of the seasonality. However, the monitor BLU shipment in 1Q10 will maintain strong momentum. Combined with fewer working days in February, the BLU shipment in the first quarter is expected to be flat.” said Fred Huang. “Look into 2010, overall BLU shipment is forecasted to increase over 30% YoY.”
“The educational tenders in emerging markets and shipment delays from 3Q09 caused by key parts shortage contributed to a significant growth in 4Q09; the sales revenue and shipment increased to NT$4,736 million and 309K units in 4Q09, up 17% and 21% QoQ respectively. For the fiscal year ended 2009, projector sales revenue amounted to NT$15,210 million and shipment was 940K units. Worldwide market share is estimated up to 19% in 2009; Ultra Short Throw projector and PICO projector accounted for around 15% of total shipment.” said Mr. Shen Wang, President of System Business Group of Coretronic. “As LED and 3D become hot topic on the market, Coretronic has been successfully launching LED projectors, 3D projectors and 3D glasses in 1Q10.” said Shen Wang. “Due to the demand from educational tenders and channel replenishment, the monthly shipment quantity is expected to reach 100K~105K units in 1Q10. For 2010, the shipment quantity is expected to grow over 30% YoY”
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (720m shares in 4Q09; 719m shares in 3Q09).
“For LCD Backlight, combined China sales revenue in 4Q09 amounted to NT$16,716 million and shipment was 20.17 million units, up 19% and 4% QoQ respectively,due mainly to the better product mix. The high-end LED monitor BLU contributed significantly to the growth in 4Q09, with the penetration rate increasing to 20% as compared with 5% in 3Q09. The NB BLU shipment, as expected, posted 15% growth QoQ reflecting the strong seasonality. For the fiscal year ended 2009, combined China sales revenue amounted to NT$49,097 million and shipment was 65.64 million units, both up 5% YoY ” said Mr. Fred Huang, President of Backlight Business Group of Coretronic. “The demand from LCD TV BLU in 1Q10 will decline as a result of the seasonality. However, the monitor BLU shipment in 1Q10 will maintain strong momentum. Combined with fewer working days in February, the BLU shipment in the first quarter is expected to be flat.” said Fred Huang. “Look into 2010, overall BLU shipment is forecasted to increase over 30% YoY.”
“The educational tenders in emerging markets and shipment delays from 3Q09 caused by key parts shortage contributed to a significant growth in 4Q09; the sales revenue and shipment increased to NT$4,736 million and 309K units in 4Q09, up 17% and 21% QoQ respectively. For the fiscal year ended 2009, projector sales revenue amounted to NT$15,210 million and shipment was 940K units. Worldwide market share is estimated up to 19% in 2009; Ultra Short Throw projector and PICO projector accounted for around 15% of total shipment.” said Mr. Shen Wang, President of System Business Group of Coretronic. “As LED and 3D become hot topic on the market, Coretronic has been successfully launching LED projectors, 3D projectors and 3D glasses in 1Q10.” said Shen Wang. “Due to the demand from educational tenders and channel replenishment, the monthly shipment quantity is expected to reach 100K~105K units in 1Q10. For 2010, the shipment quantity is expected to grow over 30% YoY”
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (720m shares in 4Q09; 719m shares in 3Q09).
