Lite-On Reports Third Quarter Net Profits of NT$2.42 Billion, up 22% Y-o-Y 11/12/2013 Lite-On Technology (2301-tw) today reported third quarter of 2013 consolidated revenue of NT$57.1 billion, up 14% Q-o-Q hitting a two-year record high, mainly attributable to consecutive growth from core businesses. Thanks to a better product mix and operational efficiency, Gross Profits and Operating Profits increased 13% Q-o-Q and 26% Q-o-Q respectively, while the third quarter Operating Profit Margin grew to 5.3% from 4.8% in the second quarter. Net Profits were NT$2.42 billion, up 8% Q-o-Q and 22% Y-o-Y with EPS of NT$1.06.
     Stable growth was shown in the six major applications/products of Lite-On’s core businesses, including Power Management Systems and Server Enclosures for cloud computing, Camera Modules and Power Chargers for smartphoness and tablets as well as Keyboards for tablets of mobiles devices, Optical Disk Drives (ODD) and Power Supplies for game consoles, LED Components/Lighting, Automotive Electronics and Solid State Drives (SSD). These core businesses accounted for 40% of Lite-On’s overall revenue, with growth of 18% Q-o-Q and 40% Y-o-Y, of which products for game console application achieved tremendous growth, resulting from smooth delivery, coupled with peak season effects.
     In the third quarter of 2013, Lite-On’s cumulative sales were NT$153.86 billion, while posting a gross profit margin of 14.7%, up 0.7% Y-o-Y, and a pretax profit margin of 5.3%, up 0.1% Y-o-Y. To further strengthen its core technologies and leading position, R&D expenses increased 15% Y-o-Y. Cumulative net profits were NT$6.24 billion, a remarkable growth of 23% Y-o-Y, and EPS reached NT$2.73. Meanwhile, Lite-On’s net cash position reached NT$10.9 billion, after NT$6.1 billion of cash dividends were distributed to shareholders.
     Stable core business development is expected in the fourth quarter, mainly driven by market share gains and new product launches, coupled with seasonal effects.

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