Everlight Electronics Co (億光), the nation’s leading LED chip packager and tester, yesterday said that it is planning a transition into more lucrative market segments, which would begin to take shape toward the end of this year.
The announcement was made during trading hours yesterday, shortly after the company’s shares dropped by the maximum daily limit of 10 percent to NT$31.5 until market close in Taipei trading.
In the face of a persisting supply glut in the LED industry, Everlight has shifted its focus to the higher-margin segments of automotive lighting, infrared applications, mini-LED and invisible LED lighting, the company said in a filing with the Taiwan Stock Exchange.
The company has obtained certification from a number of international automakers and is to begin shipping LED head and tail lights, as well as car interior lights, it said.
Shipments of mini-LED backlight units for higher-tier applications including automotive displays and handheld devices would begin shipments in the final quarter of the year, the company said.
In anticipation of growth, Everlight said that it would continue earmarking capital spending to expand its production capacity for automotive applications and invisible LED lighting.
The company’s sales last month inched up 1.8 percent month-on-month, but dipped 8.1 percent year-on-year to NT$2.03 billion (US$65.95 million). Aggregate sales in the first seven months slid 10.72 percent annually to NT$14.21 billion.
Net income in the past quarter came to NT$237 million, down 36.8 percent annually from a year ago, with earnings per share of NT$0.54.
Gross margin was 24.75 percent, up from 21.8 percent in the first quarter, while operating margin increased to 3.75 percent from 3.1 percent at the end of March.
In the first half, net income totaled NT$346 million, down 49.7 percent annually, with earnings per share of NT$0.79.
Gross margin was 23.24 percent and operating margin was 3.41 percent over the period, the firm said.
As of yesterday, shares in Everlight had dipped 29.92 percent since the beginning of the year.
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