JHUNAN, , October 28, 2016 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 3Q 2016 consolidated revenues. Combined net sales for 3Q 2016 amounted to NT$ 74.5 billion, gross profit was NT$ 8.77 billion, for a gross margin of 11.8%. Operating profit totaled NT$ 3.86 billion with an operating profit of 5.2%. Net profit amounted to NT$ 3.06 billion, for a net profit margin of 4.1%. EBITDA margin of 18.4%, with a basic EPS of NT$ 0.31.
In finance, the company's total debt came down to NT$ 59.6 billion, an increase of NT$ 2.55 billion over the previous quarter. Net debt to equity ratio of 13%. The inventory turnover day was 35 days.
The Company shipped 6.97 million square meters of panel in the third quarter 2016, a decrease of 0.5% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 330 per square meter. Small and medium-sized panel revenue amounted to NT$ 15.2 billion in the third quarter 2016, an increase of 16% over the previous quarter. The company shipped 542.1 thousand square meter area of small and medium-sized during the third quarter 2016, an increase of 14.7% over the previous quarter.
In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 24%, 17%, 12% and 47% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 40-inch-and -above panels accounted for 21%, 21%, 18%, and 39% of our net sales, respectively.
Table 1: Statements of Comprehensive Income |
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Units: NTD million except per share data |
3Q 2016 |
2Q 2016 |
QoQ% |
3Q 2015 |
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Net Sales |
74,485 |
100.0% |
66,805 |
100.0% |
11.5% |
88,756 |
100.0% |
Cost of Goods Sold |
65,713 |
88.2% |
65,251 |
97.7% |
0.7% |
77,981 |
87.9% |
Gross Profit (Loss) |
8,772 |
11.8% |
1,554 |
2.3% |
464.5% |
10,776 |
12.1% |
Operating Expense |
4,912 |
6.6% |
4,592 |
6.9% |
7.0% |
6,069 |
6.8% |
Operating Income (Loss) |
3,859 |
5.2% |
(3,039) |
-4.5% |
- |
4,706 |
5.3% |
Net Non-operating Income (Exp.) |
(323) |
-0.4% |
168 |
0.3% |
- |
(625) |
-0.7% |
Income before Tax |
3,536 |
4.7% |
(2,871) |
-4.3% |
- |
4,081 |
4.6% |
EBITDA(3) |
13,714 |
18.4% |
7,408 |
11.1% |
85.1% |
17,846 |
20.1% |
Net Income (Loss) |
3,058 |
4.1% |
(3,476) |
-5.2% |
- |
3,482 |
3.9% |
Net Income (Loss)-Parent |
3,058 |
4.1% |
(3,476) |
-5.2% |
- |
3,482 |
3.9% |
Basic EPS (1)(2) |
0.31 |
(0.35) |
0.35 |
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Notes: |
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(1) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares |
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(2) Capital Stock (common): NT$99.5 billion as of September 30,2016 |
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(3) EBITDA = Operation Income + Depreciation & Amortization |
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(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as |
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(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more |
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Table 2: Combined Balance Sheet Highlights |
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NT$ million |
2016.9.30 |
2016.6.30 |
2015.9.30 |
Cash & Short Term Investment |
32,480 |
39,599 |
41,188 |
Inventory |
24,338 |
25,395 |
35,008 |
Total Assets |
354,911 |
349,288 |
396,067 |
Short Term Debt (1) |
32,352 |
21,612 |
16,352 |
Long Term Debt (2) |
27,282 |
35,468 |
43,606 |
Shareholders' Equity(3) |
215,345 |
214,685 |
241,125 |
Net Debt to Shareholders' Equity |
13% |
8% |
8% |
Depreciation & Amortization |
9,855 |
10,446 |
13,140 |
Capital Expenditure |
20,440 |
6,858 |
4,257 |
Notes |
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(1) Short term debt = (short-term bank loan + commercial papers + current portion of long term loan + obligations under capital leases) |
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(2) Long term debt = (long-term bank loan + corporate bonds + obligations under capital leases) |
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(3) Capital Stock (common): NT$99.5 billion; Book value per common stock: NT$ 21.64 as of September 30,2016 |
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(4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as |
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(5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more |
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Announcement Contact:
Jyh-Chau Wang |
Anita Chien |
Spokesperson |
Media Contact |
Tel: +886-(0)6-505-3760 |
Tel: +886-(0)6-505-1888 ext.47153 |
Email: ir@innolux.com |
Cell: +886-(0)911-572-225 |
Email: anita.chien@innolux.com |
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