Semiconductor Distributor - WPG (TSE:3702) Announces year 2006 Consolidated Management Financial Result: EPS of TW$ 2.04 per share, an 267% YoY increase
2007-02-07
Semiconductor Distributor - WPG (TSE:3702) Announces year 2006 Consolidated Management Financial Result: EPS of TW$ 2.04 per share, an 267% YoY increase
Announcement Date：2007/02/07
Taipei, Taiwan
WPG, the largest distributor of semiconductor components in Asia, executed aggressive asset quality improvement, strengthened sales promotion and upgraded operational effectiveness in last year, announces EPS of TW$ 2.04, largely surpassing TW$ 0.56 of Year 2005. Consolidated management financial performance includes: profit after tax of TW$1,370 million (approximately US$42.1 million); sales of TW$116.39 billion (approximately US$ 3.58 billion), a 0.2% YoY increase; 6.10% gross profit margin, improving from 5.11% of Year 2005. Operating profit of TW$2,791 million (approximately US$ 85.8 million), a 32.53% YoY increase, and operating margin was 2.40%. Net value per share was TW$17.93.
Because of profit growth and the effort to improve the inventory turnover, consolidated Net Working Capital (note) saved NT$3.2 billion compared to Year 2005, thus, generated NT$5.2 billion operating cash inflow. Besides reducing financial debt, the company also employed NT$684 million to buy back its stock to improve shareholder value in 2006.
Return on Working Capital (ROWC) is surpassing the original target, 12.59%, due to the profit growth and operating cash demand decrease.
Note: Net Working Capital = Accounts receivables + Inventory ?accounts payables
Table 1 WPG Holdings Year 2006 Consolidated Management Financials (in brief)
Units：TW$ million
Income Statement (2006/1/1~2006/12/31)Balance Sheet (2006/12/31)
ItemAmountItemAmount
Net Sales116,393Current Assets35,185
Cost of Goods Sold(109,296) Accounts receivables17,340
Gross Profit7,097 Inventory12,109
Operating Expenses(4,306)Funds & LT Investment564
Operating Profit2,791Fixed Assets1,465
Non-op Expenses(877)Total Assets37,587
Profit Before Tax1,914Current Liabilities20,253
Tax(495) Accounts payables8,717
Minority & Others(49)LT Liabilities5,203
Profit After tax1,370Total Liabilities25,671
EPS (Note)2.04Common Stock6,703
Net book value per share(Note)17.93Stockholders Equity12,019
Note ：Based on common share number as at 31 December, 2006.
Cash flows (2006/1/1~2006/12/31)
ItemAmount
Net Income1,421.4
Changes of NWC3,200.6
Adjustment & Others536.3
Operating cash inflow5,158.3
Financial Instrument565.4
Capital Expenditure(20.1)
Others504.8
Investment cash inflow1,050.1
Financial Debt(5,432.2)
Treasury Stock(684.0)
Cash Dividends(109.3)
Others(92.3)
Financing cash outflow(6,317.7)
Net Cash (109.3)
Beginning cash balance2,919.0
Ending cash balance 2,809.7
IR contacts：Cliff Yuan/ Cynthia Lee：(02) 2706-8268 ext.5276 / 5276 or (02)2788-5200 ext. 5118 / 5504
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
Announcement Date：2007/02/07
Taipei, Taiwan
WPG, the largest distributor of semiconductor components in Asia, executed aggressive asset quality improvement, strengthened sales promotion and upgraded operational effectiveness in last year, announces EPS of TW$ 2.04, largely surpassing TW$ 0.56 of Year 2005. Consolidated management financial performance includes: profit after tax of TW$1,370 million (approximately US$42.1 million); sales of TW$116.39 billion (approximately US$ 3.58 billion), a 0.2% YoY increase; 6.10% gross profit margin, improving from 5.11% of Year 2005. Operating profit of TW$2,791 million (approximately US$ 85.8 million), a 32.53% YoY increase, and operating margin was 2.40%. Net value per share was TW$17.93.
Because of profit growth and the effort to improve the inventory turnover, consolidated Net Working Capital (note) saved NT$3.2 billion compared to Year 2005, thus, generated NT$5.2 billion operating cash inflow. Besides reducing financial debt, the company also employed NT$684 million to buy back its stock to improve shareholder value in 2006.
Return on Working Capital (ROWC) is surpassing the original target, 12.59%, due to the profit growth and operating cash demand decrease.
Note: Net Working Capital = Accounts receivables + Inventory ?accounts payables
Table 1 WPG Holdings Year 2006 Consolidated Management Financials (in brief)
Units：TW$ million
Income Statement (2006/1/1~2006/12/31)Balance Sheet (2006/12/31)
ItemAmountItemAmount
Net Sales116,393Current Assets35,185
Cost of Goods Sold(109,296) Accounts receivables17,340
Gross Profit7,097 Inventory12,109
Operating Expenses(4,306)Funds & LT Investment564
Operating Profit2,791Fixed Assets1,465
Non-op Expenses(877)Total Assets37,587
Profit Before Tax1,914Current Liabilities20,253
Tax(495) Accounts payables8,717
Minority & Others(49)LT Liabilities5,203
Profit After tax1,370Total Liabilities25,671
EPS (Note)2.04Common Stock6,703
Net book value per share(Note)17.93Stockholders Equity12,019
Note ：Based on common share number as at 31 December, 2006.
Cash flows (2006/1/1~2006/12/31)
ItemAmount
Net Income1,421.4
Changes of NWC3,200.6
Adjustment & Others536.3
Operating cash inflow5,158.3
Financial Instrument565.4
Capital Expenditure(20.1)
Others504.8
Investment cash inflow1,050.1
Financial Debt(5,432.2)
Treasury Stock(684.0)
Cash Dividends(109.3)
Others(92.3)
Financing cash outflow(6,317.7)
Net Cash (109.3)
Beginning cash balance2,919.0
Ending cash balance 2,809.7
IR contacts：Cliff Yuan/ Cynthia Lee：(02) 2706-8268 ext.5276 / 5276 or (02)2788-5200 ext. 5118 / 5504
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com