2016/10/31
Coretronic Corporation Announces Third Quarter 2016 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the third quarter of 2016. For the third quarter ended Sept. 30, 2016, Coretronic posted consolidated sales revenue of NT$14,778 million, up 9% QoQ and drop 19% YoY respectively. Operating income was reported at NT$639 million with a net income of NT$571 million. Net income attributable to equity holders of the parent company was NT$600 million, significant growth in 106% compared to 2Q16. The basic EPS in third quarter was NT$1.35 per common share based on the total weighted average outstanding shares and NT$1.38 calculated on the basis of Sept. 30, 2016 outstanding shares.
For the first three quarters of 2016, Coretronic reported consolidated sales revenue of NT$42,246 million, drop 17% YoY and the operating income totaled NT$1,108 million with a net income of NT$1,087 million. Net income attributable to equity holders of the parent company was NT$1,213 million, drop 6% YoY. The basic EPS of NT$2.38 per common share based on the total weighted average outstanding shares and NT$2.79 calculated on the basis of Sept. 30, 2016 outstanding shares.
“The overall sales revenue of Energy Saving Business Group was NT$8,672 million in 3Q16, up 10% QoQ thanks to the higher demand from ODM and Solutions business. The overall shipment was 15.44 million units, representing 14% QoQ increase. For the first three quarter of 2016, the sales revenue amounted to NT$25,699 million and shipment was 42.62 million units, drop 27% and 24% YoY respectively.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q16, the demand of EMS and Solutions business in the growing trend while ODM business with slightly decline due to tighter open cell supply and model transition effect.” “We are successfully developed different areas, different application needs of customers by customized high-brightness BLM and touch module, integrates optical/mechanical/electrical/thermal and system integration capability to continues provide components, sub-system and system solutions products for various applications to lead Energy Saving Business Group successfully transit into a higher profit and value business model.” said Sarah Lin.
“For 3Q16, the sales revenue was NT$4,743 million and the shipment was 344K units, up 16% and 10% QoQ respectively, resulting from seasonality and new models mass production and launched. For the first three quarter of 2016, the sales revenue was NT$12,201 million and the shipment was 900K units, up 7% and 5% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity at 100K~110K units in 4Q16, slightly increase QoQ but the ASP is expected significantly improved than third quarter, driven by continuous growth in large venue, home cinema and education segment.”
According to SY Chen, the projection industry will entry a new era when laser and ultra-short throw projection technology getting more maturity in the future. By virtue of a sharp market judgment and leveraging its technology leadership, Coretronic will in the leading position and continues to provide stable and reliable new products and service and are expectations Coretronic not only the world's largest DLP projector and visual solutions provider, but also the leading provider of SSI new applications. “With innovative integration capabilities and new business models, we will continue to provide customized innovative solutions and diversity new and innovative applications for smart home cinema, large venue, digital signage, AR /VR and entertainment market. We expect the visual solutions business will continue to grow in the new projection application market.” said SY Chen, President of Visual Solutions Business Group of Coretronic.
* The total weighted average outstanding shares were 443m shares in 3Q16.
* The outstanding shares were 434m shares in 3Q16.
For the first three quarters of 2016, Coretronic reported consolidated sales revenue of NT$42,246 million, drop 17% YoY and the operating income totaled NT$1,108 million with a net income of NT$1,087 million. Net income attributable to equity holders of the parent company was NT$1,213 million, drop 6% YoY. The basic EPS of NT$2.38 per common share based on the total weighted average outstanding shares and NT$2.79 calculated on the basis of Sept. 30, 2016 outstanding shares.
“The overall sales revenue of Energy Saving Business Group was NT$8,672 million in 3Q16, up 10% QoQ thanks to the higher demand from ODM and Solutions business. The overall shipment was 15.44 million units, representing 14% QoQ increase. For the first three quarter of 2016, the sales revenue amounted to NT$25,699 million and shipment was 42.62 million units, drop 27% and 24% YoY respectively.” said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. “Look into 4Q16, the demand of EMS and Solutions business in the growing trend while ODM business with slightly decline due to tighter open cell supply and model transition effect.” “We are successfully developed different areas, different application needs of customers by customized high-brightness BLM and touch module, integrates optical/mechanical/electrical/thermal and system integration capability to continues provide components, sub-system and system solutions products for various applications to lead Energy Saving Business Group successfully transit into a higher profit and value business model.” said Sarah Lin.
“For 3Q16, the sales revenue was NT$4,743 million and the shipment was 344K units, up 16% and 10% QoQ respectively, resulting from seasonality and new models mass production and launched. For the first three quarter of 2016, the sales revenue was NT$12,201 million and the shipment was 900K units, up 7% and 5% YoY respectively.” said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. “Coretronic expects the monthly shipment quantity at 100K~110K units in 4Q16, slightly increase QoQ but the ASP is expected significantly improved than third quarter, driven by continuous growth in large venue, home cinema and education segment.”
According to SY Chen, the projection industry will entry a new era when laser and ultra-short throw projection technology getting more maturity in the future. By virtue of a sharp market judgment and leveraging its technology leadership, Coretronic will in the leading position and continues to provide stable and reliable new products and service and are expectations Coretronic not only the world's largest DLP projector and visual solutions provider, but also the leading provider of SSI new applications. “With innovative integration capabilities and new business models, we will continue to provide customized innovative solutions and diversity new and innovative applications for smart home cinema, large venue, digital signage, AR /VR and entertainment market. We expect the visual solutions business will continue to grow in the new projection application market.” said SY Chen, President of Visual Solutions Business Group of Coretronic.
* The total weighted average outstanding shares were 443m shares in 3Q16.
* The outstanding shares were 434m shares in 3Q16.
