2015/04/28
Coretronic Corporation Announces First Quarter 2015 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the first quarter of 2015. For the first quarter ended March 31, 2015, Coretronic posted consolidated sales revenue of NT$15,807 million, drop 18% QoQ and 17% YoY respectively. Operating income was reported at NT$162 million with a net income of NT$295 million. Net income attributable to equity holders of the parent company was NT$291 million with the basic EPS* of NT$0.54 per common share.
"For 1Q15, the BLU shipment was 18.49 million units, drop 21% QoQ, the BLU revenue amounted to NT$10,147 million, drop 19% QoQ, affected by the regular slow season and CNY holiday.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 2Q15, the demand remains soft as it is the traditional slow season and continued sluggish Tablet BLU. However, thanks to the stronger demand from TV and NB BLU, the overall shipments with more than 10% QoQ increase in 2Q15. Look into 2015, based upon Tablet market demand remain slow, Coretronic expect the annual Tablet BLU shipment with around 30% YoY decrease. However, the annual TV BLU shipment was expected to have more than 60% YoY growth, thanks to more projects win from TV brand customers. Therefore, the overall BLU shipment will grow quarter by quarter in 2015” said Sarah Lin.
"For 1Q15, the shipment of Projector products was 227K units and the sales revenue was NT$3,077 million, drop 20% and 14% QoQ respectively. This was resulting from traditional slow season in the first quarter.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity at 85K~95K units in 2Q15, up more than 15% QoQ.” SY Chen also indicates the second half is the traditional peak season, new products will be mass production in 2Q15 together with the new generation of interactive ultra short throw and ultra-high brightness professional projectors, as well as provide total projection solutions for various application fields. Coretronic expects the projector products with more than 10% YoY shipment growth in 2015.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (543m shares in 1Q15).
"For 1Q15, the BLU shipment was 18.49 million units, drop 21% QoQ, the BLU revenue amounted to NT$10,147 million, drop 19% QoQ, affected by the regular slow season and CNY holiday.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 2Q15, the demand remains soft as it is the traditional slow season and continued sluggish Tablet BLU. However, thanks to the stronger demand from TV and NB BLU, the overall shipments with more than 10% QoQ increase in 2Q15. Look into 2015, based upon Tablet market demand remain slow, Coretronic expect the annual Tablet BLU shipment with around 30% YoY decrease. However, the annual TV BLU shipment was expected to have more than 60% YoY growth, thanks to more projects win from TV brand customers. Therefore, the overall BLU shipment will grow quarter by quarter in 2015” said Sarah Lin.
"For 1Q15, the shipment of Projector products was 227K units and the sales revenue was NT$3,077 million, drop 20% and 14% QoQ respectively. This was resulting from traditional slow season in the first quarter.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity at 85K~95K units in 2Q15, up more than 15% QoQ.” SY Chen also indicates the second half is the traditional peak season, new products will be mass production in 2Q15 together with the new generation of interactive ultra short throw and ultra-high brightness professional projectors, as well as provide total projection solutions for various application fields. Coretronic expects the projector products with more than 10% YoY shipment growth in 2015.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (543m shares in 1Q15).
