2018/01/30
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the fourth quarter of 2017. For the fourth quarter ended Dec. 31, 2017, Coretronic posted consolidated sales revenue of NT$15,055 million, up 8.4% QoQ. Benefited from the continued growth in the high-end Visual Solutions products and optimized product mix drove the GM rate up to 18.6% from 16.5% in previous quarter. Operating income was reported at NT$812 million with a net income of NT$815 million, up 115% and 100% QoQ respectively. Net income attributable to equity holders of the parent company was NT$795 million, up 90% QoQ and 6% YoY. The basic EPS* for fourth quarter were NT$1.83.
For the fiscal year of 2017, Coretronic reported consolidated sales revenue of NT$53,105 million and the operating income totaled NT$1,731 million with a net income of NT$1,705 million, drop 12% and 6.7% YoY respectively. Net income attributable to equity holders of the parent company was NT$1,751 million with the basic EPS* of NT$4.03.
“The overall sales revenue of Energy Saving Business Group was NT$7,541 million in 4Q17, drop 1% QoQ and the overall shipment was 11.42 million units, representing 11% QoQ decrease. For the fiscal year of 2017, the sales revenue amounted to NT$28,891 million and shipment was 47.9 million units, drop 14.7% and 16.5% respectively. Resulting from the consumer market demand slow, TV Open-cell shortage, lack of direct labor in China factory had affected the overall performance in 2017.” “Due to regular slow season and CNY holiday impact, we expect the overall shipments with 10% QoQ decrease in 1Q18. Exchange rate fluctuations caused by the appreciation of the NT dollar and RMB against the US dollar are also likely to affect the overall operation performance.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into the business development in 2018 and future, Coretronic will continue to enhance all kinds of new light guide plate, light guide lens and special optical control diaphragm to develop high-value added advanced products that are thin, energy-saving, privacy and HDR applications for automotive, industrial control, medical, gaming, smart home and PID/Signage market to pursue higher margins and value as the goal, with steady growth.” said Sarah Lin.
“For 4Q17, the shipment of Visual Solutions products were 383K units, with 15% QoQ growth and the sales revenue was NT$5,381 million, up 13% QoQ, resulting from steady increase demand from Laser Screenless TV for home entertainment, education and high-end embedded projection solutions. For the fiscal year of 2017, the shipment was 1,333K units and revenue amounted to NT$17,756 million, up 9% and 5% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Visual solutions business continued grow in 2017. We have acquired more market share resulting from many factors including enhanced the overall competitiveness in mainstream model, continued to develop high-resolution 4K model for home, announced world’s first 0.18TR ultra-short throw 4K Laser Screenless TV, launched dual-colored laser UST which built-in Image Blending Touch System, etc. To provide customer extremely immersive total solutions for various market segments (education, corporate, home entertainment, digital signage and gaming). SY Chen also estimates that the shipment in 1Q18 will grow over 1Q17 but the operation performance may be impacted by short-term unfavorable exchange rate factors. Look into 2018, SY pointed out that Coretronic will address market requirements and pain points and based on the core technology to build the Laser based product platform which integrated Laser + UST + 4K UHD + smooth motion flow technologies. Aim to enhance the application of software and intelligent link function to create niche profit, continue to expand market share. At the same time, building up the core competency of key component and projection module and new business model of embedded solutions design will bring further growth momentum also. “We expect the visual solutions business will continue to grow in 2018.” said SY Chen, President of Visual Solutions Business Group of Coretronic.
Looking into the medium to long-term development strategy, Mr. Wade Chang, Chairman & CEO of Coretronic Corporation point out that Coretronic has setup five subsidiaries in 2H17: uCare Medical Electronics Co., Ltd., Champ Vision Display Inc., InnoSpectra Corporation, Coretronic Intelligent Cloud Service Corporation and Coretronic Intelligent Robotics Corporation. Based on existing two major business groups, Coretronic will move forward to the advance technologies area such as "image recognition, AI and cloud premium service" and aim to enhance the overall operating performance of Coretronic Group.
* Basic EPS was calculated based on the total weighted average outstanding shares of the balance sheet dated (434m shares)
Coretronic Corporation Announces Fourth Quarter 2017 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the fourth quarter of 2017. For the fourth quarter ended Dec. 31, 2017, Coretronic posted consolidated sales revenue of NT$15,055 million, up 8.4% QoQ. Benefited from the continued growth in the high-end Visual Solutions products and optimized product mix drove the GM rate up to 18.6% from 16.5% in previous quarter. Operating income was reported at NT$812 million with a net income of NT$815 million, up 115% and 100% QoQ respectively. Net income attributable to equity holders of the parent company was NT$795 million, up 90% QoQ and 6% YoY. The basic EPS* for fourth quarter were NT$1.83.
For the fiscal year of 2017, Coretronic reported consolidated sales revenue of NT$53,105 million and the operating income totaled NT$1,731 million with a net income of NT$1,705 million, drop 12% and 6.7% YoY respectively. Net income attributable to equity holders of the parent company was NT$1,751 million with the basic EPS* of NT$4.03.
“The overall sales revenue of Energy Saving Business Group was NT$7,541 million in 4Q17, drop 1% QoQ and the overall shipment was 11.42 million units, representing 11% QoQ decrease. For the fiscal year of 2017, the sales revenue amounted to NT$28,891 million and shipment was 47.9 million units, drop 14.7% and 16.5% respectively. Resulting from the consumer market demand slow, TV Open-cell shortage, lack of direct labor in China factory had affected the overall performance in 2017.” “Due to regular slow season and CNY holiday impact, we expect the overall shipments with 10% QoQ decrease in 1Q18. Exchange rate fluctuations caused by the appreciation of the NT dollar and RMB against the US dollar are also likely to affect the overall operation performance.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into the business development in 2018 and future, Coretronic will continue to enhance all kinds of new light guide plate, light guide lens and special optical control diaphragm to develop high-value added advanced products that are thin, energy-saving, privacy and HDR applications for automotive, industrial control, medical, gaming, smart home and PID/Signage market to pursue higher margins and value as the goal, with steady growth.” said Sarah Lin.
“For 4Q17, the shipment of Visual Solutions products were 383K units, with 15% QoQ growth and the sales revenue was NT$5,381 million, up 13% QoQ, resulting from steady increase demand from Laser Screenless TV for home entertainment, education and high-end embedded projection solutions. For the fiscal year of 2017, the shipment was 1,333K units and revenue amounted to NT$17,756 million, up 9% and 5% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Visual solutions business continued grow in 2017. We have acquired more market share resulting from many factors including enhanced the overall competitiveness in mainstream model, continued to develop high-resolution 4K model for home, announced world’s first 0.18TR ultra-short throw 4K Laser Screenless TV, launched dual-colored laser UST which built-in Image Blending Touch System, etc. To provide customer extremely immersive total solutions for various market segments (education, corporate, home entertainment, digital signage and gaming). SY Chen also estimates that the shipment in 1Q18 will grow over 1Q17 but the operation performance may be impacted by short-term unfavorable exchange rate factors. Look into 2018, SY pointed out that Coretronic will address market requirements and pain points and based on the core technology to build the Laser based product platform which integrated Laser + UST + 4K UHD + smooth motion flow technologies. Aim to enhance the application of software and intelligent link function to create niche profit, continue to expand market share. At the same time, building up the core competency of key component and projection module and new business model of embedded solutions design will bring further growth momentum also. “We expect the visual solutions business will continue to grow in 2018.” said SY Chen, President of Visual Solutions Business Group of Coretronic.
Looking into the medium to long-term development strategy, Mr. Wade Chang, Chairman & CEO of Coretronic Corporation point out that Coretronic has setup five subsidiaries in 2H17: uCare Medical Electronics Co., Ltd., Champ Vision Display Inc., InnoSpectra Corporation, Coretronic Intelligent Cloud Service Corporation and Coretronic Intelligent Robotics Corporation. Based on existing two major business groups, Coretronic will move forward to the advance technologies area such as "image recognition, AI and cloud premium service" and aim to enhance the overall operating performance of Coretronic Group.
* Basic EPS was calculated based on the total weighted average outstanding shares of the balance sheet dated (434m shares)
