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AU Optronics Reports 2Q2007 Results

编辑:K8 日期:2018-10-16

HSINCHU, July 26 /Xinhua-PRNewswire-FirstCall/ --

Second Quarter 2007 Unaudited Consolidated Financial Highlights

-- Revenues up 31.3% QoQ to NT$106.009 billion

-- Net income after tax of NT$5.987 billion

-- Earnings per share of NT$0.79 (US$0.2 per ADR)

-- Gross margin: 11.4%

-- Operating margin: 6.5%

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced unaudited results for 2Q2007. All financial information was unaudited and was prepared by the Company in accordance with generally accepted accounting principles in Taiwan (“ROC GAAP”). For the second quarter ended June 30, 2007, AUO’s consolidated revenue totaled NT$106.009 billion (US$3.2 billion*), net income NT$5,987million (US$182 million), and basic EPS NT$0.79 per common share (US$0.2 per ADR unit). For the first half year ended June 30, 2007, AUO’s consolidated revenues totaled NT$186.729 billion (US$5.7 billion), net income after tax NT$882 million (US$26.9 million), and basic EPS NT$0.12 per common share (US$0.04 per ADR.)

* Amounts converted by an exchange rate of NTD32.83:USD1 as of June 30,

2007.

In terms of 2Q2007 panel shipments, large-sized panel increased by 22.2% to 19.48 million from 1Q2007, while shipments of small- and medium-sized panel amounted to 32.23 million with a 45.6% QoQ increase, both set record high for a single-quarter unit shipment.

Mr. Max Cheng, Vice President and Chief Financial Officer of AUO noted that the 2Q2007 performance is better than the Company’s guidance announced during the Q12007 investor conference. Gross margin for the 2Q2007 increased significantly to 11.4%, bringing operating margin to 6.5%. The remarkable business performance was contributed by the increasing demand from customers, relatively better price, cost reduction efforts, contribution of post-merger synergies and higher loading rate. Starting from 2Q2007, AUO has aggressively implemented more competitive product lines with better material cost control and product mix adjustment in order to increase profitability. The first half year profitable earnings demonstrated that AUO has accomplished the complicated QDI merger case with outstanding execution and has more confidence to face the traditional 3Q-peak season by means of capacity advantages and the widest product lines.

About AU Optronics

AU Optronics Corp. (“AUO”) is one of the top three largest manufacturers* of large-size thin film transistor liquid crystal display panels (“TFT-LCD”), with approximately 20.1%* of global market share with revenues of NT$293.1billion (US$9.0bn)* in 2006. TFT-LCD technology is currently the most widely used flat panel display technology. Targeted for 40”+ sized LCD TV panels, AUO’s new generation (7.5-generation) fabrication facility production started mass production in the fourth quarter of 2006. The Company currently operates one 7.5-generation, two 6th-generation, four 5th-generation, one 4th-generation, and four 3.5-generation TFT- LCD fabs, in addition to eight module assembly facilities and the AUO Technology Center specializes in new technology platform and new product development. AUO is one of few top-tier TFT-LCD manufacturers capable of offering a wide range of small- to large- size (1.5”-65”) TFT-LCD panels, which enables it to offer a broad and diversified product portfolio.

* DisplaySearch 1Q2007 WW Large-Area TFT-LCD Shipment Report dated May 5,

2007. This data is used as reference only and AUO does not make any

endorsement or representation in connection therewith. 2006 year enAAAAAAAA> revenue converted by an exchange rate of NTD32.59:USD1.

Safe Harbour Notice

AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), the world’s third largest manufacturer of large-size TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management’AAAApectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on December 31, 2006.