Innolux has announced its second quarter 2014 results. Combined net sales for the second quarter 2014 amounted to NT$111.1 billion (US$3.7 billion), an increase of 24% over the previous quarter's NT$89.6 billion. The company reported gross profit of NT$11.6 billion, for a gross margin of 10.4%. Operating profit totaled NT$6.1 billion with an operating margin of 5.5%. Income before tax amounted to NT$ 3.4 billion. Net profit attributable to the shareholders of the parent company amounted to NT$3 billion. EPS equaled NT$0.33.
Through continuous improvement of financial structure, the company's total debt came down to NT$148.9 billion as of the end of the second quarter 2014, a significant decrease of NT$34.8 billion. Net debt to equity ratio came down from 76.7% in the previous quarter to 64.3% in the second quarter 2014. Net inventory as of the end of the second quarter 2014 was NT$45.7 billion, and the inventory turnover day was 44 days.
The company shipped nearly 7.9 million square meters of panel in the second quarter 2014, a significant increase of 24.8% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$459 per square meter. Small- to medium-sized panel revenue amounted to NT$25.1 billion in the second quarter 2014, a significant increase of 30% over the previous quarter. The company shipped 86.9 million small- to medium-sized units during the second quarter 2014.
In terms of product application, small- to medium, mobile PC/tablet, desktop monitor and TV panels accounted for 22%, 16%, 15% and 46% of Innolux' net sales, respectively. In terms of product size, 10-inch and below, 10- to 20-inch, 20- to 30-inch, 30- to 40-inch, 40-inch and above panels accounted for 23%, 22%, 18%, 5%, and 32% of its net sales, respectively.
Article translated by Rodney Chan
