LED automotive lighting module maker Laster Tech has disclosed its first-quarter 2022 operating profit reached NT$6.2 million (US$210,500), decreasing 83.67% sequentially and 85.88% year-on-year.
High-cost components and materials were procured in spot markets for some products shipped in the first quarter and COVID lockdowns in Chinese cities resulted in operating losses from reduced prouction at its Shanghai factory, Laster explained.
As the lockdowns are still impacting supply of components and materials, product shipments and workers' access to factories, Laster said it has adopted closed production at the Shanghai factory to maintain small-volume shipments daily for the time being.
The factory in northern Taiwan is producing controllers of headlights for six new car models at present and the production will be extended to such controllers for 14 new car models in third-quarter 2022, Laster noted.
Of first-quarter 2022 consolidated revenues of NT$1.541 billion, 23% came from headlight modules, 51% from taillight ones and 22% from daytime running light ones.
Laster has reported consolidated revenues of NT$401.7 million for April, slipping 35.07% sequentially and 13.47% year-on-year.
Fellow maker Excellence Optoelectronics recorded consolidated revenues of NT$927.0 million, gross margin of 14.66%, operating loss of NT$36.6 million and net profit of NT$10.8 million for the first quarter. It has reported consolidated revenues of NT$310.5 million for April, increasing 4.77% sequentially and 7.87% year-on-year.
Laster Tech: Financial results, 1Q22 (NT$m) | |||
1Q22 | Q/Q | Y/Y | |
Consolidated revenues | 1,541 | 2.53% | (5.08%) |
Gross margin | 12.17% | (1.80pp) | (4.63) |
Operating profit | 6.2 | (83.67%) | (85.88%) |
Net profit | 15.3 | (60.72%) | (65.61%) |
Net EPS (NT$) | 0.16 | ||
Source: Company, compiled by Digitimes, May 2022
