Innolux sees smaller net loss in Q2

Focus Taiwan
Date: 08/05/2020
By: Pan Chi-yi and Frances Huang

Taipei, Aug. 5 (CNA) Innolux Corp., one of the largest flat panel makers in Taiwan, reported a smaller net loss for the second quarter because of stronger shipments to meet demand for remote work and online learning devices amid the COVID-19 pandemic.

In a statement Tuesday, Innolux reported a net loss of NT$4.8 billion (US$163 million) for the quarter, down from NT$5.3 billion in the first quarter. The smaller loss was helped by a 32.7 percent increase in consolidated sales from a quarter earlier to NT$66.9 billion.

The company's loss per share stood at NT$0.49, compared with from NT$0.55 in loss in the first quarter, the statement said.

Helped by rebounding screen prices and cost control measures, the company's gross margin — the difference between revenue and cost of goods sold — improved to 2.8 percent in the second quarter from minus 1.8 percent in the first quarter.    [FULL  STORY]