Record high! WPG (TSE:3702) Reports Consolidated 2010 Sales of NT$257.3 billion, with diluted EPS of NT$4.52, +36% YoY Increase
2011-01-28
Record high! WPG (TSE:3702) Reports Consolidated 2010 Sales of NT$257.3 billion, with diluted EPS of NT$4.52, +36% YoY Increase
Taipei, Taiwan
2011/1/28
WPG, the largest distributor of semiconductor components in Asia, announced 2010 consolidated sales of NT$257.3 billion, representing 31% growth over the previous year. Net income of 2010 was NT$5.01 billion, increased 44% in comparison with 2009, and NT$4.52 per share on a diluted basis, with 36% growth rate year over year. Among above, the annual sales, net income and EPS all beat the group records.
The fourth quarter 2010 consolidated sales of WPG was NT$70.1 billion, the operating margin posted a better-than-expected increase, ahead of guidance range to 1.85%, which mainly driven by sales structure optimization and the synergy of mergers and acquisitions. Yosun has joined WPG on November 15th 2010, contributed 16% and 21% in revenue and profit aspects, exceeding the expectations.
“The profit growth has been delivered by continues product mix optimization, in addition to original 3C electronics market, we have been cultivating the business in the non-3C areas, such as automobile electronics and LED lighting, the revenue contribution of these segments have been growing stably,” said Simon Huang, chairman and president. “Due to the increase of profit and the improvement of management efficiency, Q410 Operating Cash Inflow reached NT$7.2 billion, Gearing Ratio was down to 0.44, 2010 Return on Working Capital (ROWC) was 20.5%, and ROE was 23.8%.”
“Looking ahead, we believe the total sales of the first quarter will be between NT$74 billion and NT$ 78 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 1.6%~1.8%,” said Cliff Yuan, vice president of corporate finance and accounting.
“Excepting the well-known product lines brought in by Yosun, such as Samsung Electronics and ST Microelectronics, WPG has a new franchise, Blacksand, this quarter,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupies a unique, value-added position in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the fourth quarter, we have provided more than 45 application solutions in the fields of consumer electronics (10), communication (8), automobile electronics (9) and general (18), focusing on applications of notebook and portable devices (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 December 31, 2010. (in brief)
Units：NT$ million
Income Statement (2010/1/1~2010/12/31)
Item Amount
Net Sales 257,304
Cost of Goods Sold(242,762)
Gross Profit 14,542
Operating Expenses (8,471)
Operating Profit 6,071
Non-op Expenses (30)
Profit Before Tax 6,041
Tax (1,061)
Minority & Others 30
Profit After tax 5,010
EPS (Note) 4.52
Net book value per share(Note)30.45
Note：Based on weighted average outstanding shares.
Balance Sheet (2010/12/31)
Item Amount
Current Assets 83,401
Accounts receivables36,841
Inventory 28,842
Other assets 9,973
Total Assets 93,374
Current Liabilities57,336
Accounts payables25,208
LT Liabilities 1,823
Total Liabilities59,561
Common Stock 14,531
Stockholders Equity33,812
Cash flows (2010/1/1~2010/12/31)
ItemAmount
Net Income4,980
Changes of NWC(3,342)
Operating cash inflow1,810
Investment cash inflow478
Financial Debt908
Financing cash outflow(903)
Cumulative translation adjustments(2,240)
Effect on changes of consolidated subsidiaries1,923
Net Cash1,068
Beginning cash balance6,514
Ending cash balance7,582
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268/ ext.5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
Taipei, Taiwan
2011/1/28
WPG, the largest distributor of semiconductor components in Asia, announced 2010 consolidated sales of NT$257.3 billion, representing 31% growth over the previous year. Net income of 2010 was NT$5.01 billion, increased 44% in comparison with 2009, and NT$4.52 per share on a diluted basis, with 36% growth rate year over year. Among above, the annual sales, net income and EPS all beat the group records.
The fourth quarter 2010 consolidated sales of WPG was NT$70.1 billion, the operating margin posted a better-than-expected increase, ahead of guidance range to 1.85%, which mainly driven by sales structure optimization and the synergy of mergers and acquisitions. Yosun has joined WPG on November 15th 2010, contributed 16% and 21% in revenue and profit aspects, exceeding the expectations.
“The profit growth has been delivered by continues product mix optimization, in addition to original 3C electronics market, we have been cultivating the business in the non-3C areas, such as automobile electronics and LED lighting, the revenue contribution of these segments have been growing stably,” said Simon Huang, chairman and president. “Due to the increase of profit and the improvement of management efficiency, Q410 Operating Cash Inflow reached NT$7.2 billion, Gearing Ratio was down to 0.44, 2010 Return on Working Capital (ROWC) was 20.5%, and ROE was 23.8%.”
“Looking ahead, we believe the total sales of the first quarter will be between NT$74 billion and NT$ 78 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 1.6%~1.8%,” said Cliff Yuan, vice president of corporate finance and accounting.
“Excepting the well-known product lines brought in by Yosun, such as Samsung Electronics and ST Microelectronics, WPG has a new franchise, Blacksand, this quarter,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupies a unique, value-added position in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the fourth quarter, we have provided more than 45 application solutions in the fields of consumer electronics (10), communication (8), automobile electronics (9) and general (18), focusing on applications of notebook and portable devices (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 December 31, 2010. (in brief)
Units：NT$ million
Income Statement (2010/1/1~2010/12/31)
Item Amount
Net Sales 257,304
Cost of Goods Sold(242,762)
Gross Profit 14,542
Operating Expenses (8,471)
Operating Profit 6,071
Non-op Expenses (30)
Profit Before Tax 6,041
Tax (1,061)
Minority & Others 30
Profit After tax 5,010
EPS (Note) 4.52
Net book value per share(Note)30.45
Note：Based on weighted average outstanding shares.
Balance Sheet (2010/12/31)
Item Amount
Current Assets 83,401
Accounts receivables36,841
Inventory 28,842
Other assets 9,973
Total Assets 93,374
Current Liabilities57,336
Accounts payables25,208
LT Liabilities 1,823
Total Liabilities59,561
Common Stock 14,531
Stockholders Equity33,812
Cash flows (2010/1/1~2010/12/31)
ItemAmount
Net Income4,980
Changes of NWC(3,342)
Operating cash inflow1,810
Investment cash inflow478
Financial Debt908
Financing cash outflow(903)
Cumulative translation adjustments(2,240)
Effect on changes of consolidated subsidiaries1,923
Net Cash1,068
Beginning cash balance6,514
Ending cash balance7,582
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268/ ext.5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com