TAINAN, Taiwan, July 30 /PRNewswire-Asia-FirstCall/ -- Chi Mei Optoelectronics (CMO) (TAIEX: 3009) today announced its combined second quarter 2009 TFT-LCD net sales of NT$ 70,279 million, a 58.8% increase over the previous quarter's NT$ 44,260 million. Gross loss was NT$ 2,568 million, for a gross margin of -3.7%. Operating loss totaled NT$ 7,577 million with an operating margin of -10.8%. Net loss attributable to the shareholders of the parent company amounted to NT$ 8,835 million. EPS equaled NT$ -1.24.
The company sets a new record high for its quarterly large-sized shipments(2), with approximately 19.1 million panels shipped in the second quarter 2009, an increase of a 44% over the 13.3 million panels shipped in the first quarter 2009. Blended ASP for large-sized panels increased by 13% to USD $106 per unit over the previous quarter.
CMO with TFT Subsidiaries (2) 2Q09 Income Statement - QoQ Comparison
NT$ million % % QoQ%
Except Per Share Data 2Q09 Revenue 1Q09 Revenue Change
Net Sales 70,279 100.0% 44,260 100.0% 58.8%
Cost of Goods Sold -72,847 -103.7% -60,213 -136.0% 21.0%
Gross Profit -2,568 -3.7% -15,953 -36.0% -83.9%
Operating Expenses -5,009 -7.1% -4,737 -10.7% 5.7%
Operating Income -7,577 -10.8% -20,690 -46.7% -63.4%
Net Non-operating
Income (Exp.) -1,404 -2.0% -93 -0.2% 1409.7%
Income before Tax -8,981 -12.8% -20,783 -47.0% -56.8%
Net Income- Parent(3) -8,835 -12.6% -19,570 -44.2% -54.9%
EBITDA(4) 9,962 14.2% -3,212 -7.3% --
Basic EPS (NT$)(5) -1.24 -- -2.73 -- -54.6%
Notes:
(1): Chi Hsin Electronics was merged into CMO on May 31, 2009
(2): Figures include TFT-LCD related subsidiaries: NBCMO, NBCME, NHCMO,
NHCME, CMOJ, Dong Guan CHE and NBCHE
(3): Net attributable to the parent company before preferred dividend
(4): EBITDA = Operation Income + Depreciation & Amortization
(5): Calculation of basic EPS is after preferred dividend and based on
weighted average of outstanding common shares
(6): All figures are unaudited, prepared by Chi Mei Optoelectronics
CMO with TFT Subsidiaries(2) 2Q09 Balance Sheet
CMO w/ subsidiaries
NT$ million 2Q09 1Q09 2Q08
Cash & Cash Equivalent 72,378 92,019 27,751
Inventory 24,269 23,708 42,542
Total Assets 534,429 569,901 527,223
Short Term Debt (3) 64,242 74,122 38,153
Long Term Debt 208,768 227,951 121,697
Shareholders' Equity (4) 174,202 183,744 237,999
Net Debt to Shareholders'
Equity 115.2% 114.3% 55.5%
Depreciation &
Amortization 17,539 17,478 16,175
Capital Expenditure 8,822 10,781 26,089
Notes
(1): Chi Hsin Electronics was merged into CMO on May 31, 2009
(2): Including TFT LCD related subsidiaries: NBCMO, NBCME, NHCMO, NHCME,
CMOJ, Dong Guan CHE and NBCHE
(3): Short term debt = (short-term bank loan + commercial papers +
current portion of long term loans and obligations under capital
leases)
(4): Capital Stock (common): NT$ 72.13 billion (net of treasury shares in
1Q 2009)
(5): Book value per common stock: NT$ 22.07
(6): All figures are unaudited, prepared by Chi Mei Optoelectronics
Announcement Contact:
Denis Chen
CMO Acting Spokesperson
Tel: +886-06-505-3760
Email: ir@cmo.com.tw
Loreta Chen
CMO Public Relations
Tel: +886-06-505-1888 #11202
Email: loreta_chen@cmo.com.tw
