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.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
RSS