Innolux Corporation Announces Unaudited 2016 Third Quarter
JHUNAN, Taiwan, Oct. 28, 2016 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 3Q 2016 consolidated revenues. Combined net sales for 3Q 2016 amounted to NT$ 74.5 billion, gross profit was NT$ 8.77 billion, for a gross margin of 11.8%. Operating profit totaled NT$ 3.86 billion with an operating profit of 5.2%. Net profit amounted to NT$ 3.06 billion, for a net profit margin of 4.1%. EBITDA margin of 18.4%, with a basic EPS of NT$ 0.31.
In finance, the company's total debt came down to NT$ 59.6 billion, an increase of NT$ 2.55 billion over the previous quarter. Net debt to equity ratio of 13%. The inventory turnover day was 35 days.
The Company shipped 6.97 million square meters of panel in the third quarter 2016, a decrease of 0.5% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 330 per square meter. Small and medium-sized panel revenue amounted to NT$ 15.2 billion in the third quarter 2016, an increase of 16% over the previous quarter. The company shipped 542.1 thousand square meter area of small and medium-sized during the third quarter 2016, an increase of 14.7% over the previous quarter.
In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 24%, 17%, 12% and 47% 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%, 21%, 18%, and 39% of our net sales, respectively.
Table 1: Statements of Comprehensive Income
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Units: NTD million except per share data
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3Q 2016
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2Q 2016
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QoQ%
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3Q 2015
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Net Sales
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74,485
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100.0%
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66,805
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100.0%
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11.5%
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88,756
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100.0%
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Cost of Goods Sold
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65,713
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88.2%
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65,251
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97.7%
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0.7%
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77,981
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87.9%
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Gross Profit (Loss)
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8,772
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11.8%
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1,554
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2.3%
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464.5%
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10,776
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12.1%
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Operating Expense
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4,912
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6.6%
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4,592
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6.9%
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7.0%
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6,069
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6.8%
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Operating Income (Loss)
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3,859
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5.2%
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(3,039)
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-4.5%
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-
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4,706
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5.3%
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Net Non-operating Income (Exp.)
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(323)
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-0.4%
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168
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0.3%
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-
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(625)
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-0.7%
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Income before Tax
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3,536
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4.7%
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(2,871)
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-4.3%
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-
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4,081
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4.6%
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EBITDA(3)
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13,714
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18.4%
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7,408
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11.1%
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85.1%
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17,846
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20.1%
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Net Income (Loss)
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3,058
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4.1%
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(3,476)
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-5.2%
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-
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3,482
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3.9%
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Net Income (Loss)-Parent
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3,058
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4.1%
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(3,476)
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-5.2%
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-
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3,482
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3.9%
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Basic EPS (1)(2)
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0.31
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(0.35)
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0.35
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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$99.5 billion as of September 30,2016
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(3) EBITDA = Operation Income + Depreciation & Amortization
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(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).
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(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.
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Table 2: Combined Balance Sheet Highlights
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NT$ million
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2016.9.30
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2016.6.30
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2015.9.30
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Cash & Short Term Investment
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32,480
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39,599
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41,188
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Inventory
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24,338
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25,395
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35,008
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Total Assets
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354,911
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349,288
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396,067
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Short Term Debt (1)
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32,352
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21,612
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16,352
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Long Term Debt (2)
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27,282
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35,468
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43,606
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Shareholders' Equity(3)
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215,345
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214,685
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241,125
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Net Debt to Shareholders' Equity
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13%
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8%
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8%
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|
|
|
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Depreciation & Amortization
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9,855
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10,446
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13,140
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Capital Expenditure
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20,440
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6,858
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4,257
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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$99.5 billion; Book value per common stock: NT$ 21.64 as of September 30,2016
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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.
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Announcement Contact:
Jyh-Chau Wang
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Anita Chien
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Spokesperson
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Media Contact
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Tel: +886-(0)6-505-3760
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Tel: +886-(0)6-505-1888 ext.47153
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Email: [email protected]
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Cell: +886-(0)911-572-225
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Email: [email protected]
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/innolux-corporation-announces-unaudited-2016-third-quarter-300353359.html
SOURCE Innolux Corporation
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