LandMark Optoelectronics, a maker of GaAs- and InP-based epitaxial wafers for making optical components for communication products, has announced the buyback of two million shares of its stock, equivalent to a 2.19% stake, at a price interval of NT$160.00-430.00 (US$5.08-13.65) per share during November 11, 2016-January 10, 2017.
The buyback is possibly because LandMark Optoelectronics' stock price drastically dropped from the highest level of NT$529 per share in August 2016 to closing price of NT$212.50 per share on November 10, market analysts said.
LandMark has reported consolidated revenues of NT$490.2 million, gross margin of 57.62%, net operating profit of NT$229.8 million, net profit of NT$188.7 million and net EPS of NT$0.09 for the third quarter, leading to consolidated revenues of NT$1.760 billion, gross margin of 63.39%, net operating profit of NT$961.7 million, net profit of NT$789.7 million and net EPS of NT$8.69 for January-September.
LandMark's October consolidated revenues reached NT$104.4 million, declining 7.98% on month and 49.16% on year, and those of NT$1.864 billion for January-October grew 15.62% on year.
Article translated by Adam Hwang
