Innolux Corporation Announces Unaudited 2016 Second Quarter Gross profit NT$1.55 Billion
JHUNAN , Taiwan, July 29, 2016 /PRNewswire/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 2Q 2016 consolidated revenues. Combined net sales for 2Q 2016 amounted to NT$ 66.8 billion, gross profit was NT$ 1.55 billion, for a gross margin of 2.3%. Operating loss totaled NT$ 3 billion with an operating loss of 4.5%. Net loss amounted to NT$ 3.5 billion, for a net loss margin of 5.2%. EBITDA margin of 11.1%, with a basic EPS of -NT$ 0.35.
In finance, the company's total debt came down to NT$ 57.1 billion, an increase of NT$ 2.4 billion over the previous quarter. Net debt to equity ratio of 8% was the same as the previous quarter, maintaining good financial health. The inventory turnover day was 38 days.
The Company shipped 7 million square meters of panel in the second quarter 2016, an increase of 24.4% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 289 per square meter. Small and medium-sized panel revenue amounted to NT$ 13.1 billion in the second quarter 2016, an increase of 0.4% over the previous quarter. The company shipped 472.8 thousand square meter area of small and medium-sized during the second quarter 2016, an increase of 23.6% over the previous quarter.
In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 25%, 15%, 12% and 48% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 40-inch-and -above panels accounted for 20%, 20%, 15%, and 45% of our net sales, respectively.
Table 1: Statements of Comprehensive Income
Units: NTD million except per share data
|
2Q 2016
|
1Q 2016
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QoQ%
|
2Q 2015
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Net Sales
|
66,805
|
100.0%
|
56,417
|
100.0%
|
18.4%
|
93,755
|
100%
|
Cost of Goods Sold
|
65,251
|
97.7%
|
60,455
|
107.2%
|
7.9%
|
78,173
|
83.4%
|
Gross Profit (Loss)
|
1,554
|
2.3%
|
(4,038)
|
-7.2%
|
|
15,583
|
16.6%
|
Operating Expense
|
4,592
|
6.9%
|
4,365
|
7.7%
|
5.2%
|
6,190
|
6.6%
|
Operating Income (Loss)
|
(3,039)
|
-4.5%
|
(8,402)
|
-14.9%
|
|
9,393
|
10.0%
|
Net Non-operating Income(Exp.)
|
168
|
0.3%
|
(131)
|
-0.2%
|
|
(2,047)
|
-2.2%
|
Income before Tax
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(2,871)
|
-4.3%
|
(8,534)
|
-15.1%
|
|
7,345
|
7.8%
|
EBITDA(3)
|
7,408
|
11.1%
|
3,046
|
5.4%
|
143.2%
|
23,123
|
24.7%
|
Net Income (Loss)
|
(3,476)
|
-5.2%
|
(8,582)
|
-15.2%
|
|
5,406
|
5.8%
|
Net Income (Loss)-Parent
|
(3,476)
|
-5.2%
|
(8,582)
|
-15.2%
|
|
5,406
|
5.8%
|
Basic EPS (1)(2)
|
(0.35)
|
|
(0.86)
|
|
|
0.54
|
|
|
Notes:
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(1) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares
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(2) Capital Stock (common): NT$99.5 billion as of June 30,2016
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(3) EBITDA = Operation Income + Depreciation & Amortization
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(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).
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(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.
|
|
Table 2: Combined Balance Sheet Highlights
Units: NT$ million
|
2016.6.30
|
2016.3.31
|
2015.6.30
|
Cash & Short Term Investment
|
39,599
|
36,462
|
40,724
|
Inventory
|
25,395
|
29,164
|
33,221
|
Total Assets
|
349,288
|
351,258
|
401,083
|
Short Term Debt (1)
|
21,612
|
19,251
|
16,355
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Long Term Debt (2)
|
35,468
|
35,445
|
51,790
|
Shareholders' Equity (3)
|
214,685
|
222,810
|
236,085
|
Net Debt to Shareholders' Equity
|
8%
|
8%
|
12%
|
|
|
|
|
Depreciation & Amortization
|
10,446
|
11,448
|
13,731
|
Capital Expenditure
|
6,858
|
7,459
|
3,783
|
|
Notes:
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(1) Short term debt = (short-term bank loan + commercial papers + current portion of long term loan + obligations under capital leases)
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(2) Long term debt = (long-term bank loan + corporate bonds + obligations under capital leases)
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(3) Capital Stock (common): NT$99.5 billion; Book value per common stock: NT$ 21.57 as of June 30,2016
|
(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).
|
(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.
|
Announcement Contact:
Jyh-Chau Wang Spokesperson Tel: +886-(0)6-505-3760 Email: [email protected]
Anita Chien Media Contact Tel: +886-(0)6-505-1888 ext.47153 Cell: +886-(0)911-572-225 Email: [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/innolux-corporation-announces-unaudited-2016-second-quarter-gross-profit-nt155-billion-300306160.html
SOURCE Innolux Corporation
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