ROBUST DEMAND: Sales last quarter increased 47.69 percent on an annual basis to NT$18.36 billion, but declined 0.68 percent quarter-on-quarter, company data showed

Taipei Times
Date: Jan 10, 2020
By: Natasha Li  /  Staff reporter

Largan Precision Co (大立光), which supplies camera lenses to Apple Inc, yesterday posted record-high net profit of NT$28.26 billion (US$941.75 million) for last year, thanks to robust customer demand and a higher gross margin.

The company’s net profit increased 16 percent year-on-year from NT$24.37 billion in 2018. Earnings per share last year climbed to NT$210.69 from NT$181.67 in 2018.

Cumulative revenue reached NT$60.75 billion, up 22 percent from NT$49.95 billion in 2018, while gross margin inched up to 69.04 percent from 68.76 percent in 2018.

Net profit in the fourth quarter of last year grew 24.91 percent year-on-year to NT$8.09 billion, or earnings per share of NT$60.32, while fourth-quarter gross margin rose to 71.13 percent from 69.12 percent in the third quarter, thanks to an improved product mix, the company said.

Sales last quarter increased 47.69 percent year-on-year to NT$18.36 billion, but declined 0.68 percent on a quarterly basis, a company financial statement showed.    [FULL  STORY]