Record high! WPG (TSE:3702) Reports Consolidated Second Quarter 2011 Sales of NT$ 82.5 Billion, Net Income of NT$ 1.49B, Diluted EPS of NT$1.03
2011-08-01
Record high! WPG (TSE:3702) Reports Consolidated Second Quarter 2011 Sales of NT$ 82.5 Billion, Net Income of NT$ 1.49B, Diluted EPS of NT$1.03
Taipei, Taiwan
2011/8/1
WPG, the largest distributor of semiconductor components in Asia, reported the second quarter 2011 consolidated sales of NT$82.5 billion, the operating margin posted a better-than-expected increased ahead of guidance range from 1.7~1.9% to 2.26%, the net income reached NT$1,498 million, the diluted earnings per share would have been NT$ 1.03.
“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 and industrial electronics, the revenue contribution of these segments have been growing stably. Q2 2011 Return on Working Capital (ROWC) was 14%, and ROE was 18%,” said Simon Huang, chairman and president, “The acquisition of Yosun has contributed more than 32% in revenue this quarter, increasing from 22% last quarter, which derived the growth of our operating margin.”
“Looking ahead, we believe the total sales of the third quarter will be between NT$89 billion and NT$ 93 billion, with the growth margin in the range of 5.4%~5.6% and we expect the average operating margin is 2.1%~2.3%,” 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 second quarter, we have provided more than 55 application solutions in the fields of consumer electronics (40), communication (5) and automobile electronics (10), focusing on applications of tablet PC, LED TV and car audio (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 June 30, 2011. (in brief)
Units：NT$ million
Income Statement (2011/1/1~2011/6/30)
ItemAmount
Net Sales162,320
Cost of Goods Sold(153,230)
Gross Profit9,090
Operating Expenses(5,595)
Operating Profit3,495
Non-op Expenses(93)
Profit Before Tax3,402
Tax(578)
Minority & Others(8)
Profit After tax2,815
EPS (Note1)1.94
EPS (Note2)1.78
Net book value per share(Note1)22.82
Net book value per share(Note2)20.94
Note1：Based on weighted average outstanding shares.
Note2：Based on weighted average outstanding shares Ex-Dividend.
Balance Sheet (2011/6/30)
ItemAmount
Current Assets101,047
Accounts receivables48,217
Inventory36,787
Other assets10,116
Total Assets111,162
Current Liabilities74,567
Accounts payables31,663
LT Liabilities2,059
Total Liabilities77,259
Common Stock14,531
Stockholders’ Equity33,903
Cash flows (2011/1/1~2011/6/30)
ItemAmount
Net Income2,824
Changes of NWC(11,936)
Operating cash inflow(8,671)
Investment cash inflow1,856
Financial Debt6,295
Financing cash outflow6,307
Cumulative translation adjustments430
Net Cash(495)
Beginning cash balance7,573
Ending cash balance7,078
IR contacts：Cliff Yuan/ Kathryn Chen/ Zoe Peng
Tel：886-2-27068268 ext.85268/ ext.85278/ ext.85262
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
Taipei, Taiwan
2011/8/1
WPG, the largest distributor of semiconductor components in Asia, reported the second quarter 2011 consolidated sales of NT$82.5 billion, the operating margin posted a better-than-expected increased ahead of guidance range from 1.7~1.9% to 2.26%, the net income reached NT$1,498 million, the diluted earnings per share would have been NT$ 1.03.
“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 and industrial electronics, the revenue contribution of these segments have been growing stably. Q2 2011 Return on Working Capital (ROWC) was 14%, and ROE was 18%,” said Simon Huang, chairman and president, “The acquisition of Yosun has contributed more than 32% in revenue this quarter, increasing from 22% last quarter, which derived the growth of our operating margin.”
“Looking ahead, we believe the total sales of the third quarter will be between NT$89 billion and NT$ 93 billion, with the growth margin in the range of 5.4%~5.6% and we expect the average operating margin is 2.1%~2.3%,” 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 second quarter, we have provided more than 55 application solutions in the fields of consumer electronics (40), communication (5) and automobile electronics (10), focusing on applications of tablet PC, LED TV and car audio (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 June 30, 2011. (in brief)
Units：NT$ million
Income Statement (2011/1/1~2011/6/30)
ItemAmount
Net Sales162,320
Cost of Goods Sold(153,230)
Gross Profit9,090
Operating Expenses(5,595)
Operating Profit3,495
Non-op Expenses(93)
Profit Before Tax3,402
Tax(578)
Minority & Others(8)
Profit After tax2,815
EPS (Note1)1.94
EPS (Note2)1.78
Net book value per share(Note1)22.82
Net book value per share(Note2)20.94
Note1：Based on weighted average outstanding shares.
Note2：Based on weighted average outstanding shares Ex-Dividend.
Balance Sheet (2011/6/30)
ItemAmount
Current Assets101,047
Accounts receivables48,217
Inventory36,787
Other assets10,116
Total Assets111,162
Current Liabilities74,567
Accounts payables31,663
LT Liabilities2,059
Total Liabilities77,259
Common Stock14,531
Stockholders’ Equity33,903
Cash flows (2011/1/1~2011/6/30)
ItemAmount
Net Income2,824
Changes of NWC(11,936)
Operating cash inflow(8,671)
Investment cash inflow1,856
Financial Debt6,295
Financing cash outflow6,307
Cumulative translation adjustments430
Net Cash(495)
Beginning cash balance7,573
Ending cash balance7,078
IR contacts：Cliff Yuan/ Kathryn Chen/ Zoe Peng
Tel：886-2-27068268 ext.85268/ ext.85278/ ext.85262
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com