AUO Second Quarter 2008 Unaudited Consolidated Financial Highlights:
* Revenue: NT$123.48 billion (US$ 4.1 billion*), 9.6% QoQ decline
* Net income: NT$20.39 billion (US$ 672 million)
* Basic Earnings per Share: NT$2.57 (or US$0.84 per ADR)
* Gross margin: 25%, Operating margin: 19.5%
AU Optronics Corp. ("AUO"or the "Company") (TAIEX: 2409; NYSE: AUO) today announced its second quarter 2008 unaudited consolidated revenue of NT$123.48 billion and net income of NT$ 20.39 billion, which attributable to equity holders of the parent company was NT$20.17 billion. And, basic EPS equaled NT$2.57 per common share (US$ 0.84 per ADR). For the first half year ended June 30, 2008, AUO’s consolidated revenues totaled NT$260.106 billion (US$8.57 billion), net income NT$47.4 billion (US$1,561million), and basic EPS NT$5.98 per common share (US$1.97 per ADR.)
The company shipped large-sized panel of 21.85 million units, a 0.8% sequentially decreased but a 12% YoY increase. Small- and medium-sized panel shipments amounted to 41.88 million, increased 11.1% QoQ and 29.9% YoY respectively.
Mr. Max Cheng, CFO and Spokesperson of AUO noted that owing to the slow season and uncertainties of the current macro environment, shipments and ASP in both IT and TV panels were lower than its previous expectations. However, AUO not only adjusted the product portfolio to meet with the changes of market demand, but also cautiously managed its inventory level (including raw materials, work-in-progress and finish goods) to be at around 40 days. Therefore, AUO was able to report its gross margin and operating margin of 25.0% and 19.5% respectively, and net income of NT$ 20.4 billion, a substantial improvement from NT 5.9 billion in 2Q2007. As a result, AUO continuously reduced the debt ratio and strengthened its financial structure to cope with any unexpected challenges in the future.
* Amounts converted by an exchange rate of NTD30.36 :USD1 as of June 30, 2008.
* All financial information was unaudited and was prepared by the Company in accordance with generally accepted accounting principles in Taiwan (“ROC GAAP”)
Corporate Communications Dept.
AU Optronics Corp.
No.1, Li-Hsin RD 2, Science-Based Industrial Park,
Hsinchu City 300, Taiwan, R.O.C.