Wellypower Optronics Corp (威力盟), a back-light arm of local flat-panel maker AU Optronics Corp (友達光電), yesterday said net profits grew more than six-fold last quarter, thanks to rising shipments of higher-margin products.
During the quarter ending Sept. 30, net income spiked to NT$171.44 million (US$5.54 million), or NT$1.01 per share, from NT$21.6 million, or NT$0.12 a share, in the second quarter, according to the company’s statement.
On an annual basis, last quarter’s net income rose 8 percent from NT$158.95 million.
Gross margin improved to 12 percent in the third quarter, compared with 7.2 percent in the second quarter.
Wellypower said revenues slipped 1 percent to NT$22.68 billion last quarter because LCD panel makers were digesting inventory, from NT$22.89 billion in the second quarter.
The company generated 43 -percent of its total revenues from making cold cathode fluorescent lamps used for PC and TV LCD panels and made more than 53 percent by providing LED chip packaging services and other LED products.
Wellypower expected revenues to be little changed in the current quarter as it was cautious about the LCD industry outlook, company spokesman Tony Chang (張孜多) said last week. Shares of Wellypower dropped 0.98 percent to NT$30.2 yesterday, under-performing the TAIEX, which lost 0.18 percent.
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