Better Than Expectation on Operating Margin, WPG (TWSE:3702) Reports Its Unaudited Result of First Quarter, EPS was NT$0.63 QoQ +9.3%.
Better Than Expectation on Operating Margin, WPG (TWSE:3702) Reports Its Unaudited Result of First Quarter, EPS was NT$0.63 QoQ +9.3%.
2013/05/03
Benefited from increased demand of emerging markets combined with smartphone and tablet related components became major part of shipments, WPG, the largest distributor of semiconductor components in Asia, announced its first quarter consolidated sales reached NT$86.5 billion, near the high side of first quarter’s NT$82~87 billion guidance. Gross Margin also reached 4.87%, near the high side of 4.7%~4.9% guidance. Operating Margin was 1.59%, exceeded the high side of 1.3%~1.5% expectation. Unaudited net income of first quarter was NT$1.04 billion and NT$0.63 per share.
The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as low to mid end smartphone, tablet, wireless broadband and STB were continued growing. Non-3C segments’ contribution such as automobile, medical and industrial electronics remained healthy. Key financial indicators: Return on Working Capital (ROWC) and ROE was 9.1% and 10.6% respectively.
Looking ahead, Management guides the total sales of second quarter 2013 will be between NT$96 billion and NT$101 billion, with the gross margin in the range of 4.5%~4.7% and the operating margin between 1.5%~1.7%.
In the first quarter of 2013, around 38 application solutions were provided in the fields of cell phone / communication (15), Industrial (9), computer / peripheral (including tablet) (7), and consumer electronics (7), focusing on applications of smart phone, STB, e-wallet, surveillance, tablet and LED lighting.
Table: WPG Holdings Consolidated Management Financials for the quarter ended March 31, 2013. (in brief)
Units：NT$ million
|
Income Statement (2013/1/1~2012/3/31) |
|
Balance Sheet (2013/3/31) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Net Sales |
86,564 |
|
Current Assets |
111,037 |
|
Cost of Goods Sold |
(82,348) |
|
Accounts receivables |
60,935 |
|
Gross Profit |
4,216 |
|
Inventory |
36,417 |
|
Operating Expenses |
(2,842) |
|
Other assets |
14,056 |
|
Operating Profit |
1,374 |
|
Total Assets |
125,093 |
|
Non-op Expenses |
(99) |
|
Current Liabilities |
78,175 |
|
Profit Before Tax |
1,275 |
|
Accounts payables |
36,740 |
|
Tax |
(235) |
|
LT Liabilities |
5,867 |
|
Minority & Others |
0 |
|
Total Liabilities |
84,950 |
|
Profit After tax |
1,040 |
|
Common Stock |
16,557 |
|
EPS (Note) |
0.63 |
|
Stockholders Equity |
40,144 |
|
Net book value per share(Note) |
24.21 |
|
||
Note：Based on weighted average outstanding shares.
|
Cash flows (2013/1/1~2013/3/31) |
|
|
Item |
Amount |
|
Net Income |
1,275 |
|
Change in NWC |
(1,027) |
|
Operating cash inflow /(outflow) |
(1,229) |
|
Investment cash inflow /(outflow) |
(516) |
|
Change in Financial Debt |
(410) |
|
Financing cash inflow /(outflow) |
(387) |
|
Effect on changes of consolidated subsidiaries |
(10) |
|
Foreign Exchange |
997 |
|
Net Cash |
(1,145) |
|
Beginning cash balance |
8,872 |
|
Ending cash balance |
7,728 |
IR contacts：Cliff Yuan/ Kathryn Chen / Zoe Peng
Tel：886-2-7712-5268 / 886-2-7712-5278 / 886-2-7712-5262
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com