Net Sales of NT$ 88 Billion and Operating Margin of 18.7%
TAINAN, Taiwan, Oct. 30 /Xinhua-PRNewswire-FirstCall/ -- Chi Mei Optoelectronics (CMO) (TAIEX: 3009) today announced its third quarter 2007 results (1). Net sales for the third quarter 2007 amounted to NT$ 88,209 million, a 44% increase over the previous quarter’s NT$ 61,099 million. Gross profit was NT$ 21,361 million, for a gross margin of 24.2%. Operating income totaled NT$ 16,483 million with an operating margin of 18.7%. Net income amounted to NT$ 13,724 million. EPS equaled NT$ 2.01.
The company shipped 15.1 million panels in the third quarter 2007, which represents a 30.2% increase over the 11.6 million panels shipped in the second quarter 2007. Blended ASP on a per unit basis increased by 11.7% to USD $178 over the previous quarter.
CMO with TFT Subsidiaries (1) 3Q07 Income Statement - QoQ Comparison
NT$ million QoQ %
Except Per Share Data 3Q07 %Revenue 2Q07 %Revenue Change
Net Sales(1) 88,209 100.0% 61,099 100.0% 44.4%
Cost of Goods Sold (66,848) -75.8% (51,841) -84.8% 28.9%
Gross Profit 21,361 24.2% 9,258 15.2% 130.7%
Operating Expenses (4,878) -5.5% (4,830) -7.9% 1.0%
Operating Income 16,483 18.7% 4,428 7.3% 272.2%
Net Non-operating
Income (Exp.) (2,175) -2.5% (1,034) -1.7% 110.3%
Income before Tax 14,308 16.2% 3,394 5.6% 321.6%
EBITDA(2) 28,794 32.7% 15,360 25.2% 87.5%
Net Income(3) 13,724 15.6% 3,389 5.5% 305.0%
Basic EPS (NT$)(4) 2.01 -- 0.48 -- --
Notes
1. Including TFT LCD related subsidiaries: NBCMO, NBCME, NHCMO and CMOJ
2. EBITDA = Operation Income + Depreciation & Amortization
3. Net income before preferred dividend
4. Calculation of basic EPS is after preferred dividend and based on
weighted average of outstanding common shares
5. EPS is after employee bonus and stock dividends
6. All figures are unaudited, prepared by Chi Mei Optoelectronics
CMO Unconsolidated 3Q07 Selective Balance Sheet and Other Items
NT$ million 3Q07 2Q07 3Q06
Cash & Cash Equivalent (3) 17,030 16,363 8,778
Inventory (3) 30,616 32,081 22,476
Total Assets 447,521 414,961 356,574
Short Term Debt (1)(3) 27,398 29,719 29,985
Long Term Debt (3) 132,507 122,941 110,464
Shareholders’ Equity (2) 199,615 187,276 166,219
Net Debt to Shareholders’
Equity 71.6% 72.8% 79.2%
Depreciation &
Amortization (3) 11,816 10,554 8,477
Capital Expenditure 21,787 21,645 32,472
Notes
1. Short term debt = (short-term bank loan + commercial papers + current
portion of long term loans)
2. Post dividend Capital Stock (common): NT$ 67.87 billion
3. When including TFT LCD related subsidiaries, NBCMO, NBCME, NHCMO and
CMOJ:
NT$ million 3Q07 2Q07
Cash & Cash Equivalent 21,849 20,990
Inventory 31,708 32,955
Interest bearing Debt 174,308 164,031
Depreciation & Amortization 12,312 10,932
4. All figures are unaudited, prepared by Chi Mei Optoelectronics
Announcement Contact:
Denis Chen
CMO Acting Spokesperson
Tel: +886-6-505-3760
Email: ir@cmo.com.tw
Loreta Chen
CMO Public Relations
Tel: +886-6-505-1888 #11202
Email: loreta_chen@cmo.com.tw
