AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced that the Company's 2003 net income is expected to exceed more than 20% than that filed in April 2003, due to better than expected 1H 2003 operation results. Therefore, AUO's financial forecast filed in April 2003 was no longer adequate.
AUO held a meeting of the Board of Directors and Supervisors, at which the Board approved its unaudited results of operations for the six months ended June 30, 2003. As the Company’s 1H 2003 results have already exceeded the original financial forecast filed in April 2003, AUO needs to adjust its financial forecast for fiscal year 2003 accordingly to comply with ROC government regulations.
Based on the revised forecast, AUO's consolidated and unconsolidated net sales for the year are estimated to be approximately NT$97,275 million and NT$90,523 million, respectively, while revised income before tax and net income are both estimated to be around NT$10,509 million. The revised financial forecast for 2003 will be announced shortly, upon approval by the Company's auditors.