Lite-On reports better-than-expected Q1 profit

BRIGHT OUTLOOK:Lite-On chief executive officer Warren Chen said last quarter was the bottom of the year, adding that business is expected to pick up from this quarter

Taipei Times
Date: May 13, 2016
By: Lauly Li / Staff reporter

Lite-On Technology Corp (光寶科技) yesterday reported a better-than-expected profit for last quarter.

Net profit grew 4 percent year-on-year to NT$1.7 billion (US$52.24 million), or earnings per share of NT$0.74, outperforming the market’s consensus estimate of NT$1.57 billion, or NT$0.67 per share.

However, last quarter’s figure plunged 32 percent from the prior quarter’s NT$2.5 billion, because of seasonal factors.

Due to a better product portfolio and operating efficiency, gross margin and operating margin were 13.2 percent and 4.1 percent in the first quarter respectively, an increase of 0.66 percentage points and 0.78 percentage points from a year earlier, Lite-On said.     [FULL  STORY]

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