IT + CE
Chicony Electronics reports record 3Q19 results
Adam Hwang, DIGITIMES, Taipei

Keyboard and CCM (compact camera module) maker Chicony Electronics has relaesed third-quarter 2019 financial report, with consolidated revenues of NT$26.186 billion (US$858 million), gross profit of NT$5.009 billion, net operating profit of NT$2.508 billion and net profit of NT$1.655 billion hitting respective quarterly records.

Net EPS of NT$6.65 for January-September 2019 already exceeded its highest-ever annual net earnings per share of NT$6.62 recorded in 2011, Chicony said.

Products used in notebooks and desktops accounted for 47% of January-September 2019 consolidated revenues and non-PC-use products for 53% of which 34% was attributable to those used in smart home and smart building devices as well as AI-based IoT devices, Chicony noted.

Chicony said in 2018 it recorded a global market share of 37% for notebook keyboards, that of 29% for desktop keyboards, that of 42% for notebook CCMs, that of 45% for notebook adapters and that of 25% for IP surveillance cameras.

Chicony expects fourth-quarter 2019 revenues to drop sequentially mainly due to New Taiwan dollar's appreciation against US dollar.

Chicony has reported consolidated revenues of NT$9.280 billion for October, hitting a monthly record for the third time straight with growth of 1.61% sequentially and 12.63% on year, and those of NT$77.194 billion for January-October increased 7.14% on year.

Chicony Electronics: Financial results, 3Q19 (NT$b)

3Q19

Q/Q

Y/Y

Jan-Sep 2019

Y/Y

Consolidated revenues

26.186

16.12%

4.85%

67.914

6.43%

Gross margin

19.13%

2.21pp

3.45pp

17.26%

3.34pp

Net operating profit

2.508

48.23%

45.90%

4.621

53.73%

Net profit

1.655

28.69%

26.43%

4.587

69.64%

Net EPS (NT$)

2.39

6.65

Source: Company, compiled by Digitimes, November 2019

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