Lite-On’s net profit jumps 18 percent

THIRD-QUARTER RESULTS: The company blamed a 10 percent drop in revenue on its solid-state drive business, which it is selling to Toshiba Memory Holdings

Taipei Times
Date: Nov 05, 2019
By: Natasha Li  /  Staff reporter

Electronic components supplier Lite-On Technology Corp (光寶科技) yesterday reported that net profit grew 18 percent year-on-year to NT$3.11 billion (US$102.29 million) last quarter, translating into earnings per share of NT$1.34 — the most in three years.

Gross margin and operating margin increased to 16.2 percent and 6.7 percent from 15.8 percent and 6.2 percent respectively, due to operational efficiency, better supply-chain management and an improved product mix, the company said.

However, third-quarter revenue dropped 10 percent year-on-year to NT$48.16 billion, as Lite-On’s three main business segments experienced declines.

Revenue from the company’s storage segment, which contributed 13 percent of total revenue last quarter, declined 35.43 percent annually to NT$6.25 billion, company data showed.

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