AUO Third Quarter 2008 Unaudited Consolidated Financial Highlights:
* Revenue: NT$104.1 billion (US$ 3.23 billion*), 15.7% QoQ decline
*
Net income : NT$860 million (US$ 27 million)
* Basic Earnings per Share:
NT$0.09 (or US$ 0.03 per ADR)
* Gross margin: 8.0%, Operating margin: 2.6%
AU Optronics Corp. ("AUO"or the "Company") (TAIEX: 2409; NYSE: AUO)
today announced its third quarter 2008 unaudited consolidated revenues of
NT$104.1 billion and net income of NT$ 860 million, which attributable to equity
holders of the parent company was NT$806 million. And, basic EPS equaled NT$0.09
per common share (US$0.03 per ADR). For the first nine months of 2008, AUO’s
consolidated revenues totaled NT$364.2 billion (US$11.3 billion), net income
NT$48.2 billion (US$1,497 million), which attributable to equity holders of the
parent company was NT47.8 billion (US$ 1,484 million), and basic EPS NT$5.62 per
common share (US$1.74 per ADR).
Overall, the company shipped large-sized
panel of 20.72 million units in the third quarter of 2008, a 5.2% sequential
decrease and a 6.9% YoY decrease. Small- and medium-sized panel shipments in the
third quarter amounted to 61.12 million, a significant increase of 45.9% QoQ and
50.2% YoY respectively.
Mr. Max Cheng, CFO and Spokesperson of AUO
noted, “Our ASPs for large-sized PC panels and TV panels in the third quarter
declined by 30.6% and 12.4% QoQ respectively, primarily due to a weakening
macroeconomic environment and consumers’ cautious spending. Even small- and
medium-sized panel shipments posted a remarkable result, plus TV panel shipments
met our previous expectation, the third quarter results were only partially in
line with our guidance. Through strict cost control, adjustment in capacity
utilization rates and product mix, we are able to maintain our inventory within
40-day level, and deliver a gross margin of 8.0% and operation margin of 2.6%
for 3Q’08. To overcome the challenges from the severe economic environment, we
will continue adjusting the loading rates based on the current market demand.”
With the innovation of product development and process optimization, AUO will
cautiously evaluate its capital investment and strengthen its competitiveness to
defy economic morass.
“AUO will keep stringently controlling costs while
improving the technology innovation. We will also solidify the long-term
relationship with our clients by offering highly value-added products,” said Dr.
LJ Chen, the President of AUO. Dr. Chen also unveiled the future plans of AUO,
including reinforcing the relationship with TV clients through the TV set
assembly business, and investing in LED and Photovoltaic technology, to enhance
AUO’s overall competitiveness during the slow season.
* Amounts
converted by an exchange rate of NTD32.23 :USD1 as of September 30, 2008.
*
All financial information was unaudited and was prepared by the Company in
accordance with generally accepted accounting principles in Taiwan (“ROC
GAAP”)
Yawen Hsiao
Corporate Communications Dept.
AU
Optronics Corp.
No.1, Li-Hsin RD 2, Science-Based Industrial Park,
Hsinchu City 300, Taiwan, R.O.C.
Tel:+886-3-500-8899 ext:3211
Fax:+886-3-5772730
Email: yawenhsiao@auo.com