Wed, Jul 25, 2018 - Page 12 News List

Coretronic bullish on sales of energy-saving products

By Lisa Wang  /  Staff reporter

Coretronic Corp (中強光電), which makes display backlight modules, yesterday said that shipments of its energy-saving products, primarily backlight modules for TVs and monitors, would grow 10 percent sequentially this quarter thanks to seasonal demand.

During the second quarter, Coretronic’s energy-saving business group shipped 11.5 million units, up 2 percent from the previous quarter.

The group is the biggest revenue contributor for Coretronic, accounting for 28 percent of its NT$13.95 billion (US$454.1 million) revenue last quarter.

“The third quarter is the industry’s peak season. All [energy-saving] product lines should enjoy sequential growth,” Coretronic energy-saving business group president Sarah Lin (林惠姿) told an investors’ teleconference.

“TV, monitors and tablets should see double-digit percentage growth [quarter-on-quarter],” Lin said.

However, Lin warned that LCD TV panel price increases would pose a risk to the shipments of TV sets during the peak season.

The company also expects strong growth in projector shipments and a quarterly increase in average selling prices this quarter, backed by growing demand from schools and for high-end models.

The projector business contributed 22 percent to the company’s revenue last quarter after Coretronic shipped 334,000 units, up 5 percent from the previous quarter due to the FIFA World Cup and increasing demand for ultra-high-definition projectors.

Coretronic expects gross margin to remain flat in the second half, compared with 18.2 percent last quarter.

Net profit more than doubled to NT$455 million last quarter, compared with NT$193 million in the first quarter, the company’s financial statement showed.

That translated into earnings per share of NT$1.04, up from NT$0.45.

In the first half, Coretronic posted NT$649 million in net profit, up 20.8 percent from NT$537 million in the same period last year.

Revenue grew 9 percent to NT$26.32 billion in the first half, from NT$24.16 billion the previous year.

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