AUO reaches 65% yields for Ultra HD TV panels

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AUO reaches 65% yields for Ultra HD TV panels

Julian Ho, Taipei; Alex Wolfgram, DIGITIMES

Thursday 7 February 2013

AU Optronics
AU Optronics Corp. designs, develops, manufactures, assembles and markets flat panel displays. The Company's principal products are thin-film transistor-liquid crystal display (TFT-LCD) panels. AUO is able to offer TFT-LCD panels in sizes ranging from 1.2 inches to greater than 65 inches.

The company was established in September 2001 by the merger of Acer Display Technology, Inc. and Unipac Optoelectronics Corporation.

In October 2006, AUO further merged with Quanta Display Inc. to create a larger TFT-LCD manufacturer with 20% of the world's large-sized TFT-LCD market, forming the company as of today.

Its panels are used in computer products, such as notebook computers and desktop monitors; consumer electronics products, such as mobile phones, digital photo frames, digital still cameras, portable navigation display, portable digital video disc players, LCD televisions, and industrial displays.

The Company sells its panels primarily to original equipment manufacturing service providers or brand customers. The Company groups its business into three marketing channels: Information Technology Displays, Consumer Products Displays and Television Displays. AUO is the first TFT-LCD manufacturer in Taiwan to mass produce TFT-LCD panels by means of G3.5, G4, G5, G6,G7.5 and G8.5 fabrications, and the constructing G8.5 fab was enter mass production in the second half of 2009. In March 2008 and June 2008, the Company acquired 45% and 26% of equity interests in Verticil Electronic Corp. and Dazzo Technology Corporation, respectively.
Performance

The company's stock price closed at NT$12 on the TSE on Thursday, April 26, 2018.

The company has reported consolidated revenues of NT$25,554 million for March 2018, representing a 12.7% increase on month and 17.7% drop on year.

For the fourth quarter of 2017, the company totaled NT$80,664 million in consolidated revenues, down 7.7% sequentially and down 12.2% on year.

Brief

Full name: AU Optronics
Chinese name: 友達光電股份有限公司
Short name: AUO
Arconym: AUO
Stock code: 2409
Country: Taiwan
Tax ID: 84149738
Market: TSE
Established: 12 Aug 1996
Paid in capital: NT$96.24 billion
Listed on TSE: 8 Sep 2000
Website: www.auo.com
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Latest stock

AUO [2409] historical stock price (NT$)
Date	Volume (k)	Transactions	Value	Open	High	Low	Close	Change		Ask	Bid
27-Apr	107,610	13,790	1,342,525,400	12.30	12.65	12.30	12.55	+0.55	+4.58%	12.50	12.55
26-Apr	80,409	11,184	970,301,550	12.20	12.25	11.95	12.00	-0.15	-1.23%	12.00	12.05
25-Apr	83,196	14,324	999,080,454	11.95	12.25	11.90	12.15	+0.05	+0.41%	12.15	12.20
24-Apr	69,338	12,517	843,989,500	12.40	12.45	12.05	12.10	-0.30	-2.42%	12.10	12.15
23-Apr	56,592	10,352	706,844,100	12.55	12.60	12.40	12.40	-0.25	-1.98%	12.40	12.45
20-Apr	35,353	6,252	447,644,250	12.70	12.75	12.60	12.65	-0.20	-1.56%	12.65	12.70
19-Apr	61,426	10,968	786,620,850	12.85	12.90	12.75	12.85	+0.10	+0.78%	12.80	12.85
18-Apr	44,538	7,831	565,549,400	12.65	12.80	12.60	12.75	+0.15	+1.19%	12.75	12.80

Source: TSE, compiled by Digitimes

Latest sales

AUO: Consolidated revenues, Mar 2017 - Mar 2018 (NT$m)
Month	Sales	M/M	Y/Y	YTD	Y/Y
Mar-18	25,554	12.7%	(17.7%)	74,445	(15.9%)
Feb-18	22,681	(13.5%)	(22.2%)	48,891	(15%)
Jan-18	26,210	1.4%	(7.6%)	26,210	(7.6%)
Dec-17	25,843	(5.7%)	(17.1%)	341,028	3.6%
Nov-17	27,390	(0.2%)	(9.4%)	315,185	5.8%
Oct-17	27,430	(5.6%)	(9.9%)	287,795	7.5%
Sep-17	29,068	(3.6%)	(3.8%)	260,365	9.8%
Aug-17	30,144	7%	4.1%	231,297	11.7%
Jul-17	28,183	(1.4%)	5%	201,153	13%
Jun-17	28,573	1.8%	4%	172,969	14.4%
May-17	28,063	1%	4.7%	144,396	16.7%
Apr-17	27,776	(10.6%)	7.6%	116,333	20%
Mar-17	31,052	6.6%	18.2%	88,557	24.5%

*Figures are consolidated
Source: TSE, compiled by Digitimes, April 2018

AUO: Consolidated revenues, 4Q16 - 4Q17 (NT$m)
Quarter	Sales	Q/Q	Y/Y	YTD	Y/Y
4Q-17	80,664	(7.7%)	(12.2%)	341,028	3.6%
3Q-17	87,395	3.5%	1.6%	260,365	9.8%
2Q-17	84,412	(4.7%)	5.4%	172,969	14.4%
1Q-17	88,557	(3.6%)	24.5%	88,557	24.5%
4Q-16	91,846	6.8%	10.1%	329,089	(8.7%)

*Figures are consolidated
Source: TSE, compiled by Digitimes, April 2018

Latest balance sheet and income statement

AUO: Consolidated balance sheet, 4Q16 - 4Q17 (NT$k)
Item	4Q-2017	3Q-2017	2Q-2017	1Q-2017	4Q-2016
Current assets	180,175,541	188,918,088	181,170,121	165,768,633	163,346,242
Intangible assets	13,170,892	13,313,504	13,451,955	13,464,383	13,602,834
Non-current assets	261,275,743	260,320,978	259,973,019	259,536,437	266,423,009
Assets	441,451,284	449,239,066	441,143,140	425,305,070	429,769,251
Current liabilities	107,236,609	120,647,608	118,251,650	109,185,564	117,266,175
Non-current liabilities	108,969,560	108,274,925	111,746,318	110,469,202	112,867,894
Liabilities	216,206,169	228,922,533	229,997,968	219,654,766	230,134,069
Stockholders' equity	225,245,115	220,316,533	211,145,172	205,650,304	199,635,182

*Figures are consolidated
Source: TSE, compiled by Digitimes, April 2018

AUO: Consolidated income statement, 4Q16 - 4Q17 (NT$k)
Item	4Q-2017		3Q-2017		2Q-2017		1Q-2017		4Q-2016
Item	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales
Gross sales	80,663,616		87,395,435		84,412,400		88,556,816		91,845,582
Operating revenue	80,663,616	100%	87,395,435	100%	84,412,400	100%	88,556,816	100%	91,845,582	100%
Gross profit (loss) from operations	11,175,677	13.9%	15,312,500	17.5%	17,120,819	20.3%	17,432,749	19.7%	17,229,201	18.8%
Operating expenses	5,472,959	6.8%	5,569,530	6.4%	5,444,790	6.5%	5,415,342	6.1%	5,668,782	6.2%
Operating income (loss)	5,702,718	7.1%	9,742,970	11.1%	11,676,029	13.8%	12,017,407	13.6%	11,560,419	12.6%
Non-operating expenses and losses	-439,566	-0.5%	763,683	0.9%	-31,970	0%	-67,665	-0.1%	-269,015	-0.3%
Income from continuing operations before income tax	5,263,152	6.5%	10,506,653	12%	11,644,059	13.8%	11,949,742	13.5%	11,291,404	12.3%
Net income (loss)	3,653,559	4.5%	8,223,807	9.4%	8,946,489	10.6%	9,434,633	10.7%	8,375,097	9.1%
Diluted earnings per share (NT$)	0.4		0.9		1		1		0.9