Largan Precision Co (大立光), a leading supplier of camera lens modules, yesterday reported its highest monthly revenue since November last year as more Android-based smartphone brands adopt large-aperture, multi-lens designs to enhance photo features.
Consolidated revenue last month rose 44.24 percent year-on-year to NT$5.01 billion (US$162.1 million) from NT$3.47 billion and was up 27.58 percent from NT$3.93 billion in March, the company said in a statement posted on its Web site.
The results met the guidance the company issued last month, when the Taichung-based firm said that revenue would be higher than the previous month.
Revenue for this month would also be higher than last month, Largan chief executive officer Adam Lin (林恩平) told an investors’ conference on April 11.
Largan counts Apple Inc, Sony Corp, Samsung Electronics Inc and Huawei Technologies Co (華為) among its customers.
Last month, 8-megapixel lenses accounted for 10 to 20 percent of total shipments, 10 to 20-megapixel lenses made up 50 to 60 percent and lenses with a resolution of 20 megapixels or greater contributed 20 to 30 percent, Largan’s shipment breakdown showed.
Largan did not elaborate on its revenue performance.
Good Security Investment Consultant Co (顧德投顧) analyst Huang Han-cheng (黃漢成) said that Largan’s better-than-expected sales increase last month was backed by rising orders from Huawei. The data should be a catalyst to boost the company’s stock price in the near term, Chinese-language news outlet Cynes.com reported.
Largan shares closed 1.41 percent higher at NT$4,675 on Friday. They have surged 45.41 percent so far this year.
In the first four months of the year, Largan’s cumulative revenue totaled NT$14.83 billion, up 20.11 percent from NT$12.35 billion in the same period last year.
SinoPac Securities Investment Service Co (永豐投顧) said that Huawei’s aggressive inventory preparation in the first half and an industry trend toward multi-camera handsets would continue to support Largan’s business growth.
“Looking ahead, we will monitor the penetration rate for triple lenses among key US clients and the magnitude of replacement demand for 5G handsets in 2020 as potential valuation drivers,” SinoPac analyst Liao Kuan-chieh (廖貫捷) said in a research note.
Firms in the Android camp would support Largan’s earnings in the first half, while Apple’s new iPhones would boost support in the second half, with a higher mix of 20-megapixel and above products aiding long-term sales and earnings growth, analysts said.
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