Record high! WPG (TSE:3702) Reports Consolidated Third Quarter Sales of NT$590 billion, with diluted EPS of NT$1.46, +62% YoY Net Income Increase
2009-11-03
Record high! WPG (TSE:3702) Reports Consolidated Third Quarter Sales of NT$590 billion, with diluted EPS of NT$1.46, +62% YoY Net Income Increase
EPS NT$ 3.00 for the first nine months of 2009, +46% YoY Net Income Increase
Taipei, Taiwan
2009/11/3
WPG, the largest semiconductor components distributor in Asia, reported third quarter 2009 consolidated sales of NT$590 billion (US$1.79 Billion), increased 25% quarter over quarter, and 41% over the prior year third quarter, the operating margin posted a better-than-expected increased ahead of guidance range to 2.71%, the net income reached NT$1296 million (US$39.24 Million), representing 62% growth in the year ago quarter, the diluted earning per share would have been NT$ 1.46, and NT$ 3.00 for the first nine months of 2009.
“The third quarter’s results surpassed our own high expectations, the execution was great, the profit has been delivered on the sustainable growth in 3C electronics, especially the strong demand of consumer electronics, including LCD TV, home appliance and DSC,” said Simon Huang, chairman and president. “Due to profit earned and effective inventory management, Q309 Return on Working Capital (ROWC), the key financial performance index, was 25.83%, and ROE was 26.66% both reached reach high, operating cash cycle days remained at healthy level around 30 days.”
“Looking ahead, we believe the forth quarter would be in line with normal seasonality, that total forth quarter sales will be between NT$500 billion and NT$ 530 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 2.1%~2.3%,” said Cliff Yuan, vice president of corporate finance and accounting.
“In addition to Samsung Electro-Mechanics, CSR, Panasonic and PixArt carried by Prenas and AIT, to diversify the product mix and penetrate new markets, WPG has new franchises of OrpheuSys, Gigle, Actel, and Syndiant, increasing our component sales applied to 4C (Computer/ Communication/ Consumer/ Car) applications,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupies a unique, value-added space in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the third quarter, we have provided more than 25 application solutions in the fields of communication(7), consumer electronics(4), automotive(1) and general(9), focusing on applications of CULV, LED, 3G and touch panel (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php).”
Table: WPG Holdings Consolidated Management Financials for the quarter ended September 30, 2009. (in brief)
Units：NT$ million
Income Statement (2009/1/1~2009/9/30)
Item Amount
Net Sales 143,361
Cost of Goods Sold(135,235)
Gross Profit 8,126
Operating Expenses (4,705)
Operating Profit 3,421
Non-op Expenses (6)
Profit Before Tax 3,415
Tax (782)
Minority & Others (1)
Profit After tax 2,632
EPS (Note) 3.00
Net book value per share(Note)22.02
Note：Based on weighted average outstanding shares.
Balance Sheet (2009/1/1~2009/9/30)
Item Amount
Current Assets 59,065
Accounts receivables31,879
Inventory 15,766
Other assets 3,147
Total Assets 62,212
Current Liabilities40,264
Accounts payables22,881
LT Liabilities 2,121
Total Liabilities42,768
Common Stock 8,938
Stockholders Equity19,443
Cash flows (2009/1/1~2009/9/30)
Item Amount
Net Income 2,632
Changes of NWC 913
Operating cash inflow 4,029
Investment cash inflow 989
Financial Debt (3,225)
Financing cash outflow (4,436)
Cumulative translation
adjustments 703
Effect on changes of
consolidated subsidiaries (436)
Net Cash 849
Beginning cash balance 6,088
Ending cash balance 6,938
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268/ 886-2-27068268 ext.5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
EPS NT$ 3.00 for the first nine months of 2009, +46% YoY Net Income Increase
Taipei, Taiwan
2009/11/3
WPG, the largest semiconductor components distributor in Asia, reported third quarter 2009 consolidated sales of NT$590 billion (US$1.79 Billion), increased 25% quarter over quarter, and 41% over the prior year third quarter, the operating margin posted a better-than-expected increased ahead of guidance range to 2.71%, the net income reached NT$1296 million (US$39.24 Million), representing 62% growth in the year ago quarter, the diluted earning per share would have been NT$ 1.46, and NT$ 3.00 for the first nine months of 2009.
“The third quarter’s results surpassed our own high expectations, the execution was great, the profit has been delivered on the sustainable growth in 3C electronics, especially the strong demand of consumer electronics, including LCD TV, home appliance and DSC,” said Simon Huang, chairman and president. “Due to profit earned and effective inventory management, Q309 Return on Working Capital (ROWC), the key financial performance index, was 25.83%, and ROE was 26.66% both reached reach high, operating cash cycle days remained at healthy level around 30 days.”
“Looking ahead, we believe the forth quarter would be in line with normal seasonality, that total forth quarter sales will be between NT$500 billion and NT$ 530 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 2.1%~2.3%,” said Cliff Yuan, vice president of corporate finance and accounting.
“In addition to Samsung Electro-Mechanics, CSR, Panasonic and PixArt carried by Prenas and AIT, to diversify the product mix and penetrate new markets, WPG has new franchises of OrpheuSys, Gigle, Actel, and Syndiant, increasing our component sales applied to 4C (Computer/ Communication/ Consumer/ Car) applications,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupies a unique, value-added space in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the third quarter, we have provided more than 25 application solutions in the fields of communication(7), consumer electronics(4), automotive(1) and general(9), focusing on applications of CULV, LED, 3G and touch panel (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php).”
Table: WPG Holdings Consolidated Management Financials for the quarter ended September 30, 2009. (in brief)
Units：NT$ million
Income Statement (2009/1/1~2009/9/30)
Item Amount
Net Sales 143,361
Cost of Goods Sold(135,235)
Gross Profit 8,126
Operating Expenses (4,705)
Operating Profit 3,421
Non-op Expenses (6)
Profit Before Tax 3,415
Tax (782)
Minority & Others (1)
Profit After tax 2,632
EPS (Note) 3.00
Net book value per share(Note)22.02
Note：Based on weighted average outstanding shares.
Balance Sheet (2009/1/1~2009/9/30)
Item Amount
Current Assets 59,065
Accounts receivables31,879
Inventory 15,766
Other assets 3,147
Total Assets 62,212
Current Liabilities40,264
Accounts payables22,881
LT Liabilities 2,121
Total Liabilities42,768
Common Stock 8,938
Stockholders Equity19,443
Cash flows (2009/1/1~2009/9/30)
Item Amount
Net Income 2,632
Changes of NWC 913
Operating cash inflow 4,029
Investment cash inflow 989
Financial Debt (3,225)
Financing cash outflow (4,436)
Cumulative translation
adjustments 703
Effect on changes of
consolidated subsidiaries (436)
Net Cash 849
Beginning cash balance 6,088
Ending cash balance 6,938
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268/ 886-2-27068268 ext.5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com