WPG (TSE:3702) Reports Its Third Quarter figures, Consolidated Sales was NT$107.7 Billion, set Single Quarter Record High; EPS was NT$0.81.
WPG (TSE:3702) Reports Its Third Quarter figures, Consolidated Sales was NT$107.7 Billion, set Single Quarter Record High; EPS was NT$0.81.
2013/10/31
Benefited from increased demand of emerging markets combined with growing shipments of smartphone and tablet, WPG, the largest distributor of semiconductor components in Asia, announced its third quarter consolidated sales of NT$107.7 billion, set single quarter record. Gross profit margin was 4.65%, in line with expectation of 4.6%～4.8%, Operating margin was 1.65%, also in line with third quarter’s 1.65%~1.85% guidance. Unaudited net income of third quarter was NT$1.334 billion and NT$0.81 per share. Consolidated sales of first three quarters was NT$294.97 billion, net income was NT$3.751 billion and NT$2.26 per share.
The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-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 indices: Return on Working Capital (ROWC) and ROE was 10.3% and 13.9% respectively, Inventory turnover day decreased to 35 days.
Management guides the total sales of forth quarter 2013 will be between NT$95 billion and NT$ 100 billion, with the gross margin in the range of 4.5%~4.7% and the operating margin between 1.35%~1.55%.
In the third quarter of 2013, 51 application solutions were provided in the fields of Industrial (15), cell phone / communication (13), automotive (9), computer (including Tablet)/ peripheral (8)and consumer (6), focusing on applications of Infotainment, surveillance, smart meter, e-wallet, smart watch, tablet and LED lighting.
Table: WPG Holdings Consolidated Management Financials for the quarter ended September 30, 2013. (in brief)
Units：NT$ million
|
Income Statement (2013/1/1~2013/09/30) |
|
Balance Sheet (2013/09/30) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Net Sales |
294,971 |
|
Current Assets |
123,094 |
|
Cost of Goods Sold |
(280,938) |
|
Accounts receivables |
69,370 |
|
Gross Profit |
14,033 |
|
Inventory |
40,194 |
|
Operating Expenses |
(9,185) |
|
Other assets |
14,357 |
|
Operating Profit |
4,848 |
|
Total Assets |
137,451 |
|
Non-op Expenses |
(269) |
|
Current Liabilities |
94,270 |
|
Profit Before Tax |
4,579 |
|
Accounts payables |
40,802 |
|
Tax |
(825) |
|
LT Liabilities |
3,729 |
|
Minority & Others |
(2) |
|
Total Liabilities |
98,870 |
|
Profit After tax |
3,751 |
|
Common Stock |
16,557 |
|
EPS (Note) |
2.26 |
|
Stockholders Equity |
38,581 |
|
Net book value per share (Note) |
23.26 |
|
||
Note：Based on weighted average outstanding shares.
|
Cash flows (2013/1/1~2013/09/30) |
|
|
Item |
Amount |
|
Income before Income Tax |
4,579 |
|
Change in NWC |
(9,124) |
|
Operating cash inflow /(outflow) |
(5,825) |
|
Investment cash inflow /(outflow) |
(576) |
|
Change in Financial Debt |
9,208 |
|
Cash Dividend |
(3,974) |
|
Financing cash inflow /(outflow) |
5,234 |
|
Cumulative translation adjustments |
605 |
|
Net Cash |
(562) |
|
Beginning cash balance |
8,872 |
|
Ending cash balance |
8,310 |
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