Thu, Feb 09, 2012 - Page 12 News List

AUO suffers record loss on global slump

BARGAIN BASEMENT:Having to set aside reserves to pay for potential damages from price-fixing lawsuits in the US contributed to the firm’s fifth consecutive quarterly loss

By Lisa Wang  /  Staff Reporter

AUO also said the company’s financial status was healthy and it has sufficient cash to pay back NT$48 billion in syndicated loans that would due this year. The company accumulated about NT$90 billion in cash and in equivalence plus available syndicated bank loans of NT$40 billion.

For the full year of last year, AUO booked NT$61.45 billion in losses, reversing net profits of NT$7.41 billion in 2010.

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