LED packaging company Ligitek Electronics has seen its order visibility extend to May and the company expects its revenues in March to reach NT$80 million (US$2.52 million) and exceed NT$100 million in April, according to the company chairman Tung I-shin.
Ligitek's net profit in 2009 was only NT$33.92 million, but market sources expect its net profit to reach NT$265 million in 2010.
Ligitek's new production plant in Shulin, northern Taiwan will start operation on March 26. The Shulin plant includes both solar energy product and SMD LED lines. The solar energy production line with a capacity of 50 MWp.
Ligitek plans to increase its SMD LED monthly capacity to 120 million units in 2010 from the present 30 million units, and to 300 million units in 2011, Tung noted.
The sources added that Ligitek will have the third largest PLCC packaging capacity after expansion.
LEDs for large-size panel backlighting are being verified by clients including backlight unit (BLU) makers, panel makers, Amtran and China TV vendors, Tung said.
The company will first start shipping LEDs for LCD monitor backlighting, and LEDs for TV backlighting will start contributing revenues in the second or third quarter, mainly from the China market. Revenues for backlighting business are expected to reach NT$860 million in 2010, Tung added.
LED demand for outdoor billboards from China is another source for Ligitek's revenues in 2010. Ligitek has signed a contract with China's Ministry of Housing and Urban-Rural Development to set up and maintain LED outdoor billboards at 11 scenic sites in China for 15 years, and aims to expand the business to a total of 50 scenic spots in 2010. LED outdoor billboard business in China is expected to contribute NT$20-30 million to its revenues in 2010, NT$70-80 million in 2011 and over NT$100 million in 2012, the sources added.
Ligitek is expected to challenge revenues of NT$2 billion for 2010, up 150% on year, including NT$120 million from automobile applications, NT$160 million from the lighting market and NT$800 million from the backlighting market, the sources said.
Ligitek has reported revenues of NT$65.01 million for February, down 10.85% sequentially but up 23.04% on year. Revenues for January-February totaled NT$137.94 million, up 31.26% on year.
Article translated by Yvonne Yu
