Electronic components supplier Lite-On Technology Corp (光寶科技) yesterday reported that net profit last quarter fell 4 percent year-on-year to NT$2.99 billion (US$103.37 million), from NT$3.11 billion in the same period last year.
That translated into earnings per share (EPS) of NT$1.29, down from NT$1.34 a year earlier. On a quarterly basis, net profit contracted 13 percent from NT$3.45 billion, or EPS of NT$1.48, in the second quarter.
Gross margin increased to 19 percent from 16.2 percent in the third quarter last year, which was a decline from 19.4 percent in the second quarter.
Photo: Chen Rou-chen, Taipei Times
Operating profit for the third quarter grew 23 percent year-on-year to NT$3.99 billion from NT$3.35 billion, as the company recognized a substantial asset impairment loss.
‘NO IMPACT’
“In surveying the current state and likely future trends of the global CD-ROM reader industry, we have decided to recognize a goodwill impairment of about NT$700 million,” the company said in its revenue statement.
The impairment would have “no impact” on cash flow or revenue, the statement added.
Lite-On president Anson Chiu (邱森彬) said that he sees the work-from-home trend continuing through the first half of next year.
“As long as COVID-19 is still around, the demand [for work-from-home equipment] would still be around,” Chiu said, adding that “we will continue to see double-digit percentage growth in revenue from laptop-related products in the fourth quarter on a year-on-year basis.”
‘GOOD NEWS’
He is also optimistic that Lite-On’s automotive and 5G-related product categories would see positive movement next year.
Chiu also said there would be “good news” for the company’s 5G base stations in the first quarter next year.
Lite-On’s automotive products would also start contributing more seriously to revenue, he added.
“As Lite-On sheds underperforming departments, we expect gross margin and operating profit margin to keep improving in the fourth quarter on a year-on-year basis,” Chiu said.
Third-quarter revenue fell 14 percent to NT$41.33 billion from NT$48.16 billion in the third quarter last year.
Cumulative net profit for the first three quarters was NT$8.01 billion, a 15 percent increase year-on-year.
EPS for that period were NT$3.45, up from NT$3 from a year earlier.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
Popular vape brands such as Geek Bar might get more expensive in the US — if you can find them at all. Shipments of vapes from China to the US ground to a near halt last month from a year ago, official data showed, hit by US President Donald Trump’s tariffs and a crackdown on unauthorized e-cigarettes in the world’s biggest market for smoking alternatives. That includes Geek Bar, a brand of flavored vapes that is not authorized to sell in the US, but which had been widely available due to porous import controls. One retailer, who asked not to be named, because
SEASONAL WEAKNESS: The combined revenue of the top 10 foundries fell 5.4%, but rush orders and China’s subsidies partially offset slowing demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) further solidified its dominance in the global wafer foundry business in the first quarter of this year, remaining far ahead of its closest rival, Samsung Electronics Co, TrendForce Corp (集邦科技) said yesterday. TSMC posted US$25.52 billion in sales in the January-to-March period, down 5 percent from the previous quarter, but its market share rose from 67.1 percent the previous quarter to 67.6 percent, TrendForce said in a report. While smartphone-related wafer shipments declined in the first quarter due to seasonal factors, solid demand for artificial intelligence (AI) and high-performance computing (HPC) devices and urgent TV-related orders
MINERAL DIPLOMACY: The Chinese commerce ministry said it approved applications for the export of rare earths in a move that could help ease US-China trade tensions Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement. He and US representatives are to cochair the first meeting of the US-China economic and trade consultation mechanism, it said. US President Donald Trump on Friday announced that a new round of trade talks with China would start in London beginning today,
RSS