Optoelectronic parts maker Lite-On Technology Corp (光寶科技) yesterday said it is expecting “continued growth” in core businesses this quarter, after the past quarter’s results showed a steady growth from the first quarter.
In the second quarter, stable growth was achieved in all six major products of Lite-On’s core businesses — which accounted for about 50 percent of the firm’s overall revenue with a growth of 45 percent year-on-year.
“Looking forward, thanks to increased demand from mobile devices, LED & lighting, power management systems and game consoles, as well as stable demand from PC markets, continued growth in overall performance are expected in the third quarter,” the company said in a statement.
The company’s six major growth drivers are cloud computing, mobile devices, LED lighting, solid-state drives, automobile electronics and game consoles.
Given better product mix, higher business scale and improved operating efficiency, Lite-On’s net income rose 42 percent to NT$2.03 billion (US$67.6 million) with earnings per share (EPS) of NT$0.88 in the three months ending on June 30, from NT$1.43 billion (NT$0.62 per share) in the previous quarter.
On an annual basis, net income fell 9 percent from NT$2.24 billion (NT$0.98 per share), according to a financial statement the company issued yesterday following its quarterly investors’ conference.
Consolidated revenue was NT$58.23 billion last quarter, up 13 percent quarter-on-quarter and 16 percent year-on-year, with gross margin improving to 13.5 percent and operating margin rising to 4.1 percent respectively.
Last quarter’s results were in line with market forecasts. Ahead of the release of its results, JPMorgan Securities Ltd estimated a net income of NT$2.03 billion or NT$0.88 EPS for last quarter, with gross margin of 13.6 percent and operating margin of 3.9 percent.
The brokerage said the company might face more headwinds in the coming months, given muted growth momentum at its PC-related business and the still-struggling Finland-based subsidiary Lite-On Mobile Corp, while its camera module business is to face stronger competition from Chinese vendors such as Sunny Optical Technology Group Co (舜宇光學) and O-film Tech Co Ltd (歐菲光).
Lite-On Technology shares closed 0.82 percent higher at NT$48.9 yesterday in Taipei trading.
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