2015/02/11
Coretronic Corporation Announces Fourth Quarter 2014 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the fourth quarter of 2014. For the fourth quarter ended Dec. 31, 2014, Coretronic posted consolidated sales revenue of NT$19,351 million, drop 11% QoQ and 6% YoY respectively. Operating income was reported at NT$609 million with a net income of NT$600 million, drop 41% and 18% YoY respectively. Net income attributable to equity holders of the parent company was NT$547 million with the basic EPS of NT$1.01 per common share.
For the fiscal year of 2014, Coretronic reported consolidated sales revenue of NT$81,178 million and the operating income totaled NT$3,404 million with a net income of NT$3,005 million, up 31% and 49% YoY respectively. Net income attributable to equity holders of the parent company was NT$2,841 million with the basic EPS of NT$5.23 calculated on the basis of Dec. 31, 2014 outstanding shares.
“For 4Q14, the BLU shipment was 23.45 million units, drop 11% QoQ, mainly due to weak demand from TV and Tablet models. The BLU revenue amounted to NT$12,562 million, drop 18% QoQ. For the fiscal year of 2014, the BLU shipment was 93 million units and revenue amounted to NT$55,890 million, up 20% and 15% respectively” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Due to regular slow season and CNY holiday impact, we expect the overall shipments with 15% QoQ decrease in 1Q15. Look into 2015, based upon market trend and demand, Coretronic will continue its development of semi-system business model for tablet, NB and TV display head, in order to provide optimal design, production and after-sales services, and faster closer relationships with brand name customers, system integrator and LCD panel manufacturers. The major applications will grow quarter by quarter in 2015 and expect the overall BLU shipment with around 10% YoY growth.” said Sarah Lin.
“For 4Q14, the shipment of Projector products was 283K units and the sales revenue was NT$3,576 million, drop 13% QoQ respectively. For the fiscal year of 2014, Projector shipment was 1,163K units and revenue amounted to NT$14,750 million, up 15% and 12% YoY respectively. This was resulting from significant shipment growth across UST and high-end models.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Since the first quarter is traditionally the low season, Coretronic expects the monthly shipment quantity is 75K~85K units in 1Q15.”
Based on market research report, 2015 worldwide projector demand is estimated to be flat at 8.15 M units. Major growth will be in the educational and large venues segments. According to SY Chen, Coretronic will combine laser light source and cooling technology to continue the development of the high-performance optical engine platform for interactive ultra short throw and ultra-high brightness professional projectors. Coretronic is also to increase software functions of multimedia and internet of the thing (IOT) and links with core technology capabilities of software developing and system integration to create most friendly user interface for new interactive experience, and to provide total projection solutions for various application fields. Besides increasing the education and high brightness professional market share, Coretronic also actively develop wearable products and the new applications for imaging products. “Coretronic expects the projector products with more than 10% YoY shipment growth in 2015.” said SY Chen.
For the fiscal year of 2014, Coretronic reported consolidated sales revenue of NT$81,178 million and the operating income totaled NT$3,404 million with a net income of NT$3,005 million, up 31% and 49% YoY respectively. Net income attributable to equity holders of the parent company was NT$2,841 million with the basic EPS of NT$5.23 calculated on the basis of Dec. 31, 2014 outstanding shares.
“For 4Q14, the BLU shipment was 23.45 million units, drop 11% QoQ, mainly due to weak demand from TV and Tablet models. The BLU revenue amounted to NT$12,562 million, drop 18% QoQ. For the fiscal year of 2014, the BLU shipment was 93 million units and revenue amounted to NT$55,890 million, up 20% and 15% respectively” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Due to regular slow season and CNY holiday impact, we expect the overall shipments with 15% QoQ decrease in 1Q15. Look into 2015, based upon market trend and demand, Coretronic will continue its development of semi-system business model for tablet, NB and TV display head, in order to provide optimal design, production and after-sales services, and faster closer relationships with brand name customers, system integrator and LCD panel manufacturers. The major applications will grow quarter by quarter in 2015 and expect the overall BLU shipment with around 10% YoY growth.” said Sarah Lin.
“For 4Q14, the shipment of Projector products was 283K units and the sales revenue was NT$3,576 million, drop 13% QoQ respectively. For the fiscal year of 2014, Projector shipment was 1,163K units and revenue amounted to NT$14,750 million, up 15% and 12% YoY respectively. This was resulting from significant shipment growth across UST and high-end models.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Since the first quarter is traditionally the low season, Coretronic expects the monthly shipment quantity is 75K~85K units in 1Q15.”
Based on market research report, 2015 worldwide projector demand is estimated to be flat at 8.15 M units. Major growth will be in the educational and large venues segments. According to SY Chen, Coretronic will combine laser light source and cooling technology to continue the development of the high-performance optical engine platform for interactive ultra short throw and ultra-high brightness professional projectors. Coretronic is also to increase software functions of multimedia and internet of the thing (IOT) and links with core technology capabilities of software developing and system integration to create most friendly user interface for new interactive experience, and to provide total projection solutions for various application fields. Besides increasing the education and high brightness professional market share, Coretronic also actively develop wearable products and the new applications for imaging products. “Coretronic expects the projector products with more than 10% YoY shipment growth in 2015.” said SY Chen.
