2011/10/28
Coretronic Corporation Announces Third Quarter 2011 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the third quarter of 2011. For the third quarter ended September 30, 2011, Coretronic posted consolidated sales revenue of NT$19,428 million with an operating income of NT$344 million, up 5% and 17% QoQ respectively. Net income was reported at NT$423 million, flat QoQ. Net income attributable to equity holders of the parent company was NT$370 million with the basic EPS* of NT$0.51 per common share.
For the first three quarters of 2011, Coretronic reported consolidated sales revenue of NT$58,531 million and the operating income totaled NT$1,326 million with a net income of NT$1,515 million. Net income attributable to equity holders of the parent company is NT$1,239 million with the basic EPS* of NT$1.71 per common share.
“Although the global economy remain slow with weak demand of TFT LCD TV in the third quarter, Coretronic’s LCD BLU revenue was NT$11,682 million and the shipment was 16.21 million units, increase 9% and 5% QoQ respectively. Thanks to the continued growth of NB and tablet BLU models. The LED penetration rate for TV, Monitor and NB was 73%, 57% and 99% in 3Q11. For the first three quarters of 2011, LCD BLU revenue amounted to NT$36,108 million and shipment was 48.23 million units.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q11, the industry visibility and demand are weak due to sluggish global economy together with some BLU models will enter the EOL period. Therefore, Coretronic expects the QoQ shipment will decline around 10% in 4Q11.” said Sarah Lin.
“The sales revenue of Projector products was NT$4,899 million, up 4% QoQ due mainly to the product launch for new customer and new LED projectors mass production. The Projector shipment was 305K units in 3Q11, decreased 2% QoQ. For the first three quarters of 2011, Projector revenue amounted to NT$13,399 million and shipment was 915K units.” said Mr. Shen Wang, President of System & Medical Business Group of Coretronic. “Fourth quarter is traditional slow season and tenders have been postponed due to weak economic situation. The monthly shipment quantity is expected to reach 100K~105K units in 4Q11, staying flat as 3Q11. Furthermore, Coretronic targets to ship more than 1.2 million units including 10% of Pico/Pocket LED Projectors in 2011.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 3Q11).
For the first three quarters of 2011, Coretronic reported consolidated sales revenue of NT$58,531 million and the operating income totaled NT$1,326 million with a net income of NT$1,515 million. Net income attributable to equity holders of the parent company is NT$1,239 million with the basic EPS* of NT$1.71 per common share.
“Although the global economy remain slow with weak demand of TFT LCD TV in the third quarter, Coretronic’s LCD BLU revenue was NT$11,682 million and the shipment was 16.21 million units, increase 9% and 5% QoQ respectively. Thanks to the continued growth of NB and tablet BLU models. The LED penetration rate for TV, Monitor and NB was 73%, 57% and 99% in 3Q11. For the first three quarters of 2011, LCD BLU revenue amounted to NT$36,108 million and shipment was 48.23 million units.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q11, the industry visibility and demand are weak due to sluggish global economy together with some BLU models will enter the EOL period. Therefore, Coretronic expects the QoQ shipment will decline around 10% in 4Q11.” said Sarah Lin.
“The sales revenue of Projector products was NT$4,899 million, up 4% QoQ due mainly to the product launch for new customer and new LED projectors mass production. The Projector shipment was 305K units in 3Q11, decreased 2% QoQ. For the first three quarters of 2011, Projector revenue amounted to NT$13,399 million and shipment was 915K units.” said Mr. Shen Wang, President of System & Medical Business Group of Coretronic. “Fourth quarter is traditional slow season and tenders have been postponed due to weak economic situation. The monthly shipment quantity is expected to reach 100K~105K units in 4Q11, staying flat as 3Q11. Furthermore, Coretronic targets to ship more than 1.2 million units including 10% of Pico/Pocket LED Projectors in 2011.
* Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 3Q11).
