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TMCNet:  Innolux Corporation Announces Unaudited 2017 Second Quarter

[July 26, 2017]

Innolux Corporation Announces Unaudited 2017 Second Quarter

JHUNAN, Taiwan, July 26, 2017 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 2Q 2017 consolidated revenues. Consolidated net sales for 2Q 2017 amounted to NT$ 84.5 billion, gross profit was NT$ 21 billion, for a gross margin of 24.9%. Operating profit totaled NT$ 15.8 billion with an operating profit of 18.7%. Net profit amounted to NT$ 12.1 billion, for a net profit margin of 14.3%. EBITDA margin of 28.4%, with a basic EPS of NT$ 1.22. Innolux continue to hit new highs since the merger.

In finance, the company's total debt came down to NT$ 36.4 billion, equal to the previous quarter. Net debt to equity ratio of -8%.

The Company shipped 6.96 million square meters of panel in the second quarter 2017, an increase of 2.1% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 395 per square meter. Small and medium-sized panel revenue amounted to NT$ 16.6 billion in the second quarter 2017, a decrease of 1.7% over the previous quarter. The company shipped 532.4 thousand square meter area of small and medium-sized during the second quarter 2017, a decrease of 6.6% over the previous quarter.        

In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 22%, 16%, 11% and 51% 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 21%, 19%, 14%, and 45% of our net sales, respectively.






Statements of Comprehensive Income

Units: NTD million except per share data

2Q 2017

1Q 2017

QoQ%

2Q 2016

Net Sales

84,509

100.0%

86,026

100.0%

-1.8%

66,805

100.0%

   Cost of Goods Sold

63,464

75.1%

65,681

76.4%

-3.4%

65,251

97.7%

Gross Profit (Loss)

21,045

24.9%

20,345

23.6%

3.4%

1,554

2.3%

    Operating Expense

5,222

6.2%

5,713

6.6%

-8.6%

4,592

6.9%

Operating Income (Loss)

15,823

18.7%

14,632

17.0%

8.1%

(3,039)

-4.5%

Net Non-operating Income(Exp.)

361

0.4%

722

0.8%

-50.0%

168

0.3%

Income before Tax

16,184

19.2%

15,354

17.8%

5.4%

(2,871)

-4.3%

Net Income (Loss)

12,118

14.3%

11,858

13.8%

2.2%

(3,476)

-5.2%

  Basic EPS (2)

1.22


1.19



(0.35)


EBITDA(1)

24,006

28.4%

23,108

26.9%

3.9%

7,408

11.1%









Notes:

(1)     Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares

(2)     Capital Stock (common): NT$99.5billion as of  July 26, 2017

(3)     EBITDA = Operation Income + Depreciation & Amortization

(4)     All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).

(5)     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.

 

 

Combined Balance Sheet Highlights

Units: NT$ million

2017.6.30

2017.3.31

2016.6.30

Cash & Short Term Investment

56,220

35,881

39,599

Inventory

29,661

24,878

25,395

Total Assets

383,083

359,566

349,288

Short Term Debt (1)

35,531

35,498

21,612

Long Term Debt (2)

843

835

35,468

Shareholders' Equity (3)

249,031

235,547

214,685

Net Debt to Shareholders' Equity

-8%

0%

8%





Depreciation & Amortization

8,183

8,476

10,446

Capital Expenditure

4,355

5,804

6,858

 

Notes:

(1)     Short term debt = (short-term bank loan + current portion of long term loan)

(2)     Capital Stock (common): NT$99.5billion; Book value per common stock: NT$ 25.02 as of June 30, 2017

(3)     Net debt to shareholders' equity = (short term debt + long term debt - cash & short term investment) / shareholders' equity

(4)     All figures are unaudited, prepared by Innolux Corporation in accordance with  the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS)

(5)     Combined figures presented refer to results from other TFT-LCD related subsidiaries in which Innolux Corporation has 50% or more ownership. Inter-company transactions between Innolux Corporation and these companies have been eliminated to avoid double-counting.

 

Announcement Contact:

Chih-Hung Shiao

Spokesperson

Tel: +886-(0)6-505-3760

Email: [email protected]

Sophia Cheng

Media Contact

Tel: +886-(0)37-586-000 ext. 62959

Email: [email protected]

 

Jutil Chen 

IR contact

Tel: +886-(0)6-505-3760

Email: [email protected]


View original content:http://www.prnewswire.com/news-releases/innolux-corporation-announces-unaudited-2017-second-quarter-300494306.html

SOURCE Innolux Corporation


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