Handset camera lens maker Largan Precision Co (大立光) on Saturday reported a 2.59 percent year-on-year increase in revenue for last month, reversing the previous month’s annual decline of 7.12 percent.
Consolidated revenue was NT$4.15 billion (US$143.4 million), compared with NT$4.04 billion a year earlier and the highest for the same month in seven years. The figure was a 28.03 percent increase from NT$3.24 billion in May, the company’s data showed.
Largan’s second-quarter revenue rose 7.03 percent to NT$11.76 billion, compared with NT$10.99 billion a year ago and the highest for the same period in five years. However, the figure fell 19.32 percent from NT$14.58 billion in the first quarter, data showed.
Photo: Chen Mei-ying, Taipei Times
The company had guided revenue in the second quarter to be lower than the first quarter’s level due to seasonal factors, Largan executive officer Adam Lin (林恩平) told investors in April.
The sequential decline in second-quarter revenue also came as orders from Samsung Electronics Co and Xiaomi Corp (小米) for their flagship models ended in the first quarter, Yuanta Securities Investment Consulting Co (元大投顧) said in a note on Thursday.
Meanwhile, order momentum for Apple’s new iPhone and Google’s premium models will not be significant until the third quarter, Yuanta said.
Taichung-based Largan is the world’s largest handset camera lens producer, supplying high-end products for Apple and Android phone vendors, such as Samsung, Xiaomi and Huawei Technologies Co (華為).
In the first half of this year, Largan’s cumulative revenue was NT$26.25 billion, up 17.73 percent from NT$22.3 billion a year earlier, the company’s data showed.
Yuanta forecast the company’s third-quarter revenue to grow 52 percent sequentially to NT$17.9 billion, although the figure would still be 6 percent lower than a year earlier due to slower handset sales amid macro weakness.
Largan is to release its earnings results for the second quarter at an investors’ conference on Thursday, and give sales guidance for the third quarter.
The company is also expected to provide an update on the company’s foreign exchange losses in the second quarter, potential camera lens orders for new handset models and the progress of its development in the humanoid robot sector, such as high-precision visual recognition products.
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