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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