Semiconductor Distributor - WPG (TSE:3702) Announces Second quarter Consolidated PAT of NTD557 million, an 23% QoQ increase, and diluted EPS of NT$0.74
2008-07-31
Semiconductor Distributor - WPG (TSE:3702) Announces Second quarter Consolidated PAT of NTD557 million, an 23% QoQ increase, and diluted EPS of NT$0.74
Announcement Date：2008/07/31
Taipei, Taiwan
With the growth of demand in emerging markets, WPG, (the largest distributor of semiconductor components in Asia,) announces consolidated sales of Q2?8 at NT$34.7 billion, flat as Q1?8. For the operating income growth and improvements in earning and asset quality, diluted EPS achieved NT$0.74 versus NT$0.58 on YoY basis. Second quarter consolidated management financial performance includes Profit after tax of NT$557 million (approximately US$17.98 million), an 23% QoQ increase, and diluted EPS of NT$0.74. The shareholders?meeting resolved stock dividend 0.03049 shares per share and cash dividend NT2.08 per share respectively.
Return on Working Capital (ROWC), a key financial performance index is 14.90%, due to profit growth and operating cash requirement decreases. ROE is 17.51%. Operating cash cycle days maintained 65 days. The acquisition of Pernas, a leading passive component distributor in Taiwan, and will have positive effect in 2H?8.
To diversify the product mix and gain market share, WPG has new franchise of SETi and ViMicro, increasing the component sales applied to handset, NB, DSC and image processor, in Q2.
To strengthen the cooperate governance, WPG increases 5 independent directors in the BOD and set up the Audit Committee.
Table: WPG Holdings Consolidated Management Financials for the quarter ended June 30, 2008. (in brief)
Units：NT$ million
Income Statement (2008/1/1~2008/6/30)Balance Sheet (2008/6/30)
Item AmountItemAmount
Net Sales 69,465Current Assets 40,461
Cost of Goods Sold (65,480) Accounts receivables 20,606
Gross Profit 3,985 Inventory 13,825
Operating Expenses (2,283)Funds & LT Investment 867
Operating Profit 1,702Fixed Assets 1,494
Non-op Expenses (299)Total Assets 43,078
Profit Before Tax 1,402Current Liabilities 27,257
Tax (370) Accounts payables 11,112
Minority & Others(24)LT Liabilities 2,855
Profit After tax 1,008Total Liabilities 30,362
EPS (Note) 1.34Common Stock 7,662
Net book value 16.89 Stockholders Equity 12,716
per share(Note)
Note：Based on weighted average outstanding shares.
Cash flows (2008/1/1~2008/6/30)
Item Amount
Net Income 1,032
Changes of NWC 2,693
Adjustment & Others (758)
Operating cash inflow 2,967
Financial Instrument 594
Capital Expenditure (84)
Others (50)
Investment cash inflow 460
Financial Debt (3,815)
ESOP 22
Others 239
Financing cash outflow(3,554)
Net Cash (127)
Beginning cash balance 3,977
Ending cash balance 3,850
IR contacts：Cliff Yuan/ Cynthia Lee：886-2-7712-5268 / 886-2-7712-5258 or (02)2788-5200 ext. 5118 / 5504
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
Announcement Date：2008/07/31
Taipei, Taiwan
With the growth of demand in emerging markets, WPG, (the largest distributor of semiconductor components in Asia,) announces consolidated sales of Q2?8 at NT$34.7 billion, flat as Q1?8. For the operating income growth and improvements in earning and asset quality, diluted EPS achieved NT$0.74 versus NT$0.58 on YoY basis. Second quarter consolidated management financial performance includes Profit after tax of NT$557 million (approximately US$17.98 million), an 23% QoQ increase, and diluted EPS of NT$0.74. The shareholders?meeting resolved stock dividend 0.03049 shares per share and cash dividend NT2.08 per share respectively.
Return on Working Capital (ROWC), a key financial performance index is 14.90%, due to profit growth and operating cash requirement decreases. ROE is 17.51%. Operating cash cycle days maintained 65 days. The acquisition of Pernas, a leading passive component distributor in Taiwan, and will have positive effect in 2H?8.
To diversify the product mix and gain market share, WPG has new franchise of SETi and ViMicro, increasing the component sales applied to handset, NB, DSC and image processor, in Q2.
To strengthen the cooperate governance, WPG increases 5 independent directors in the BOD and set up the Audit Committee.
Table: WPG Holdings Consolidated Management Financials for the quarter ended June 30, 2008. (in brief)
Units：NT$ million
Income Statement (2008/1/1~2008/6/30)Balance Sheet (2008/6/30)
Item AmountItemAmount
Net Sales 69,465Current Assets 40,461
Cost of Goods Sold (65,480) Accounts receivables 20,606
Gross Profit 3,985 Inventory 13,825
Operating Expenses (2,283)Funds & LT Investment 867
Operating Profit 1,702Fixed Assets 1,494
Non-op Expenses (299)Total Assets 43,078
Profit Before Tax 1,402Current Liabilities 27,257
Tax (370) Accounts payables 11,112
Minority & Others(24)LT Liabilities 2,855
Profit After tax 1,008Total Liabilities 30,362
EPS (Note) 1.34Common Stock 7,662
Net book value 16.89 Stockholders Equity 12,716
per share(Note)
Note：Based on weighted average outstanding shares.
Cash flows (2008/1/1~2008/6/30)
Item Amount
Net Income 1,032
Changes of NWC 2,693
Adjustment & Others (758)
Operating cash inflow 2,967
Financial Instrument 594
Capital Expenditure (84)
Others (50)
Investment cash inflow 460
Financial Debt (3,815)
ESOP 22
Others 239
Financing cash outflow(3,554)
Net Cash (127)
Beginning cash balance 3,977
Ending cash balance 3,850
IR contacts：Cliff Yuan/ Cynthia Lee：886-2-7712-5268 / 886-2-7712-5258 or (02)2788-5200 ext. 5118 / 5504
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com