2012/10/31
Coretronic Corporation Announces Third Quarter 2012 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the third quarter of 2012. For the third quarter ended Sept. 30, 2012, Coretronic posted consolidated sales revenue of NT$16,598 million with an operating income of NT$273 million, drop 8% and 1% QoQ. Net income was reported at NT$265 million, drop 1% QoQ. Net income attributable to equity holders of the parent company was NT$226 million with the basic EPS* of NT$0.31 per common share. For the first three quarters of 2012, Coretronic reported consolidated sales revenue of NT$51,054 million and the operating income totaled NT$727 million with a net income of NT$772 million. Net income attributable to equity holders of the parent company was NT$689 million with the basic EPS* of NT$0.95 per common share.
“Due to slow demand of Monitor BLU and delay MP of Tablet BLU new models in the third quarter, Coretronic’s LCD BLU shipment was 17.4 million units, only 1% QoQ growth. The revenue in the third quarter was NT$9,732 million representing 10% QoQ decrease. The LED penetration rate for TV, Monitor and NB was 90%, 89% and 100% in 3Q12. For the first three quarters of 2012, LCD BLU revenue amounted to NT$30,107 million, drop 17% YoY and shipment was 50 million units, up 7% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q12, the Monitor & NB BLU demand is slow. However, Coretronic estimates more than 10% QoQ shipment growth in 4Q12, driven by the TV BLU and Tablet BLU new models mass production. ” said Sarah Lin.
“The shipment of Projector products was 254K units, drop 7% QoQ, and the sales revenue was NT$3,513 million, drop 5% QoQ. This was resulting from governments and corporate tightening their budget expenditures caused by sluggish global economy. For the first three quarters of 2012, Projector shipment was 819K units and the sales revenue amounted to NT$11,200 million, drop 10% and 16% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity is 80K~90K units in 4Q12 and targets to ship around 1.1 million units in 2012.” SY Chen points out that according to research report, the Projector market growth will be driven by education and large venue segment in 2013 while the demand of corporate conference room and home cinema/home entertainment projectors will be soft. As a result, Coretronic will continuously focus and enhance the competitiveness of short throw/ultra-short throw and SSI (solid state illumination) light sources such as LED/Laser to pursue the growth trend in 2013.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 3Q12).
“Due to slow demand of Monitor BLU and delay MP of Tablet BLU new models in the third quarter, Coretronic’s LCD BLU shipment was 17.4 million units, only 1% QoQ growth. The revenue in the third quarter was NT$9,732 million representing 10% QoQ decrease. The LED penetration rate for TV, Monitor and NB was 90%, 89% and 100% in 3Q12. For the first three quarters of 2012, LCD BLU revenue amounted to NT$30,107 million, drop 17% YoY and shipment was 50 million units, up 7% YoY.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q12, the Monitor & NB BLU demand is slow. However, Coretronic estimates more than 10% QoQ shipment growth in 4Q12, driven by the TV BLU and Tablet BLU new models mass production. ” said Sarah Lin.
“The shipment of Projector products was 254K units, drop 7% QoQ, and the sales revenue was NT$3,513 million, drop 5% QoQ. This was resulting from governments and corporate tightening their budget expenditures caused by sluggish global economy. For the first three quarters of 2012, Projector shipment was 819K units and the sales revenue amounted to NT$11,200 million, drop 10% and 16% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity is 80K~90K units in 4Q12 and targets to ship around 1.1 million units in 2012.” SY Chen points out that according to research report, the Projector market growth will be driven by education and large venue segment in 2013 while the demand of corporate conference room and home cinema/home entertainment projectors will be soft. As a result, Coretronic will continuously focus and enhance the competitiveness of short throw/ultra-short throw and SSI (solid state illumination) light sources such as LED/Laser to pursue the growth trend in 2013.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 3Q12).
