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 Sophia Cheng
Spokesperson Media Contact
Tel: +886-(0)6-505-3760 Tel: +886-(0)37-586-000 ext. 62959
Email: ir@innolux.com Email: Sophia.cheng@innolux.com
Jutil Chen
IR contact
Tel: +886-(0)6-505-3760
Email: ir@innolux.com
View original content:http://www.prnewswire.com/news-releases/innolux-corporation-announces-unaudited-2017-second-quarter-300494306.html
SOURCE Innolux Corporation
