Net Sales of NT$ 47 Billion and Operating Margin of 1.3%
TAINAN, Taiwan, April 26 /Xinhua-PRNewswire-FirstCall/ -- Chi Mei Optoelectronics (CMO) (TAIEX: 3009) today reported that unconsolidated net sales for the first quarter 2007 amounted to NT$ 47,095 million, a 14.7% decrease over the NT$ 55,217 million reported in the fourth quarter 2006. Gross profit was NT$ 4,026 million, for a gross margin of 8.5%. Operating income totaled NT$ 605 million with a net loss of NT$ 1,104 million. Operating and net margins were 1.3% and -2.3%, respectively. EPS equaled NT$ -0.19.
On an unconsolidated basis, the company shipped 9 million panels in the first quarter 2007, which represents a 9% decrease over the 9.9 million panels shipped in the fourth quarter 2006. Blended ASP on a per unit basis decreased by 6% from USD$ 169 in the fourth quarter 2006 to USD$ 159 in the first quarter 2007.
CMO Unconsolidated 1Q07 Income Statement - QoQ Comparison
Amount: NT$ million QoQ%
Except Per Share Data 1Q07 %Revenue 4Q06 %Revenue Change
Net Sales 47,095 100.0% 55,217 100.0% -14.7%
Cost of Goods Sold -43,069 -91.5% -49,216 -89.1% -12.5%
Gross Profit 4,026 8.5% 6,001 10.9% -32.9%
Operating Expenses(1) -3,421 -7.2% -4,708 -8.5% -27.3%
Operating Income 605 1.3% 1,293 2.4% -53.2%
Net Non-operating Income
(Exp.) -1,708 -3.6% -856 -1.6% 99.5%
Income before Tax -1,103 -2.3% 437 0.8% --
EBITDA(2) 10,172 21.6% 10,340 18.7% -1.6%
Net Income(3) -1,104 -2.3% 436 0.8% --
Basic EPS (NT$)(4) -0.19 -- 0.05 -- --
Notes
1. Operating Expenses includes NT$243 million in donations to NCKU in
4Q06
2. EBITDA = Operation Income + Depreciation & Amortization
3. Net income before preferred dividend
4. Calculation of basic EPS is after preferred dividend and based on
weighted average of outstanding common shares
5. All figures are unaudited, prepared by Chi Mei Optoelectronics
CMO 1Q07 Selective Balance Sheet and other items
Amount: NT$ million 1Q07 4Q06 1Q06
Cash & Cash Equivalent 20,292 26,779 8,735
Inventory 26,595 23,774 21,499
Total Assets 389,515 412,420 290,208
Short Term Debt (1) 26,087 20,313 15,302
Long Term Debt 119,749 134,073 73,487
Shareholders' Equity (2) 184,402 188,283 151,758
Depreciation & Amortization 9,567 9,047 7,559
Capital Expenditure 21,591 40,123 19,508
Net Debt to Shareholders' Equity 68.1% 67.8% 52.8%
Notes
1. Short term debt = (short-term bank loan + commercial papers + current
portion of long term loans)
2. Capital Stock (common): NT$ 64.86 billion
3. All figures are unaudited, prepared by Chi Mei Optoelectronics
Announcement Contact:
Eddie Chen
CMO Acting Spokesperson
Tel: +886-06-5053760
Email: ir@cmo.com.tw
Loreta Chen
CMO Public Relations
Tel: +886-06-5051888 #11202
Email: loreta_chen@cmo.com.tw
