POSITIVE OUTLOOK: Net income grew 40.73 percent from a year earlier, while the firm’s information technology unit reported a 5 percent annual increase in sales

Taipei Times
Date: Apr 29, 2019
By: Chen Cheng-hui  /  Staff reporter

Electronic component supplier Lite-On Technology Corp (光寶科技) on Friday reported stronger than expected financial results for the first quarter of the year and said that it is optimistic about its business outlook.

The company did not provide numerical guidance, but said that it expects sales and margins to trend up quarter-on-quarter, largely supported by stable demand for LED and outdoor lighting, as well as cloud computing and smart home devices.

Net income grew 40.73 percent to NT$1.47 billion (US$47.6 million) from NT$1.04 billion a year earlier, with earnings per share rising to NT$0.63 from NT$0.45.

However, net income declined 41.89 percent from NT$2.52 billion in the previous quarter.  [FULL  STORY]