WPG (TSE:3702) Reports Consolidated First Quarter 2011 Sales of NT$ 798 Billion, With 35% QoQ Net Income Increase, Diluted EPS of NT$0.91
2011-05-03
WPG (TSE:3702) Reports Consolidated First Quarter 2011 Sales of NT$ 798 Billion, With 35% QoQ Net Income Increase, Diluted EPS of NT$0.91
Taipei, Taiwan
2011/5/3
WPG, the largest distributor of semiconductor components in Asia, reported the first quarter 2011 consolidated sales of NT$798 billion, the operating margin posted a better-than-expected increased ahead of guidance range from 1.6~1.8% to 2.02%, the net income reached NT$1,318 million, representing a 35% quarter over quarter growth, the diluted earnings per share would have been NT$ 0.91.
“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. Q1 2011 Return on Working Capital (ROWC) was 14.0%, and ROE was 15.2%,” said Simon Huang, chairman and president.
“Looking ahead, we believe the total sales of the second quarter will be between NT$80 billion and NT$ 84 billion, with the growth margin in the range of 5.2%~5.4% and we expect the average operating margin is 1.7%~1.9%,” said Cliff Yuan, chief financial officer.
”WPG has occupied a unique, value-added position in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the first quarter, we have provided more than 39 application solutions in the fields of consumer electronics (8), computer (13), automobile electronics (8) and general (10), focusing on applications of tablet PC, LED TV, security monitoring and green energy (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php),” stated Scott Lin, vice president of marketing management unit.
Table: WPG Holdings Consolidated Management Financials for the quarter ended March 31, 2011. (in brief)
Units：NT$ million
Income Statement (2011/1/1~2011/3/31)
ItemAmount
Net Sales79,780
Cost of Goods Sold(75,434)
Gross Profit4,346
Operating Expenses(2,731)
Operating Profit1,615
Non-op Expenses(15)
Profit Before Tax1,600
Tax(278)
Minority & Others(4)
Profit After tax1,318
EPS (Note)0.91
Net book value per share(Note)24.38
Note：Based on weighted average outstanding shares.
Balance Sheet (2011/3/31)
ItemAmount
Current Assets93,342
Accounts receivables43,962
Inventory33,564
Other assets9,976
Total Assets103,318
Current Liabilities65,387
Accounts payables31,415
LT Liabilities1,938
Total Liabilities67,822
Common Stock14,531
Stockholders’ Equity35,496
Cash flows (2011/1/1~2011/3/31)
ItemAmount
Net Income1,322
Changes of NWC(6,431)
Operating cash inflow(3,580)
Investment cash inflow1,193
Financial Debt1,934
Financing cash outflow1,957
Cumulative translation adjustments276
Net Cash(154)
Beginning cash balance7,573
Ending cash balance7,419
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
2011/5/3
WPG, the largest distributor of semiconductor components in Asia, reported the first quarter 2011 consolidated sales of NT$798 billion, the operating margin posted a better-than-expected increased ahead of guidance range from 1.6~1.8% to 2.02%, the net income reached NT$1,318 million, representing a 35% quarter over quarter growth, the diluted earnings per share would have been NT$ 0.91.
“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. Q1 2011 Return on Working Capital (ROWC) was 14.0%, and ROE was 15.2%,” said Simon Huang, chairman and president.
“Looking ahead, we believe the total sales of the second quarter will be between NT$80 billion and NT$ 84 billion, with the growth margin in the range of 5.2%~5.4% and we expect the average operating margin is 1.7%~1.9%,” said Cliff Yuan, chief financial officer.
”WPG has occupied a unique, value-added position in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the first quarter, we have provided more than 39 application solutions in the fields of consumer electronics (8), computer (13), automobile electronics (8) and general (10), focusing on applications of tablet PC, LED TV, security monitoring and green energy (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php),” stated Scott Lin, vice president of marketing management unit.
Table: WPG Holdings Consolidated Management Financials for the quarter ended March 31, 2011. (in brief)
Units：NT$ million
Income Statement (2011/1/1~2011/3/31)
ItemAmount
Net Sales79,780
Cost of Goods Sold(75,434)
Gross Profit4,346
Operating Expenses(2,731)
Operating Profit1,615
Non-op Expenses(15)
Profit Before Tax1,600
Tax(278)
Minority & Others(4)
Profit After tax1,318
EPS (Note)0.91
Net book value per share(Note)24.38
Note：Based on weighted average outstanding shares.
Balance Sheet (2011/3/31)
ItemAmount
Current Assets93,342
Accounts receivables43,962
Inventory33,564
Other assets9,976
Total Assets103,318
Current Liabilities65,387
Accounts payables31,415
LT Liabilities1,938
Total Liabilities67,822
Common Stock14,531
Stockholders’ Equity35,496
Cash flows (2011/1/1~2011/3/31)
ItemAmount
Net Income1,322
Changes of NWC(6,431)
Operating cash inflow(3,580)
Investment cash inflow1,193
Financial Debt1,934
Financing cash outflow1,957
Cumulative translation adjustments276
Net Cash(154)
Beginning cash balance7,573
Ending cash balance7,419
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268/ ext.5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com