Tue, May 14, 2013 - Page 14 News List

Lite-On upbeat on sales prospects

By Camaron Kao  /  Staff reporter

Lite-On Technology Corp (光寶科技) expects its sales to grow by a single digit percentage this quarter from last quarter, as the electronics component maker eyes sustained demand for its core products.

“Sales of camera modules, LED lighting products, automotive electronics and solid-state drives will be key growth drivers throughout this year,” chief executive officer Warren Chen (陳廣中) said at an investors’ conference yesterday.

Those products accounted for 34 percent of the firm’s consolidated revenue of NT$46.77 billion (US$1.56 billion) last quarter, Chen said.

In the first four months of the year, the company’s consolidated revenue was NT$62.68 billion, down 12.08 percent from NT$71.29 billion a year ago, according to a company filing to the Taiwan stock exchange.

The annual decline in the first four months is larger than an 11.1 percent fall in its first-quarter sales, as the company saw lower sales from its casing manufacturing unit Lite-On Mobile Corp, which Lite-On acquired in 2007 from Finland-based Perlos Oyj, and which counts Nokia Oyi among its major customers.

Lite-On Mobile plans to reduce its sales to Nokia, Chen said, as it seeks alternative sources of income.

Chang said Lite-On Technology’s revenue for this year would be flat from last year because of the negative impact of the slowing global PC market.

In the traditionally slow first quarter, Lite-On Technology reported net profit of NT$1.58 billion, or earnings per share of NT$0.7, down 31.5 percent from NT$2.3 billion the previous quarter.

However, the figure is up 29.9 percent from 1.21 billion a year earlier, which Chen attributed to higher sales and margins on core products.

Lite-On Technology stock rose 0.58 percent to NT$51.6 yesterday.

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