WPG (TSE:3702) Reports Its Third-Quarter Consolidated Sales and Net Income, Both Continue to Hit Record Highs; Third-Quarter EPS Was NT$0.94 and YTD EPS Grew 19% to NT$2.69.
WPG (TSE:3702) Reports Its Third-Quarter Consolidated Sales and Net Income, Both Continue to Hit Record Highs; Third-Quarter EPS Was NT$0.94 and YTD EPS Grew 19% to NT$2.69.
2014/11/4
Benefited from increased markets demand combined with growing shipments of communication-related components, industrial electronics, and cloud applications, WPG, the largest distributor of semiconductor components in Asia, announced Its third-quarter consolidated sales and net income, both set record high for two consecutive quarters. Consolidated sales reached NT$119.349 billion, gross margin was 4.45%. Under effective expense control, operating expenses to sales ratio declined continuously to 2.69%. Third-quarter operating Income reached NT$2.099 billion, increased 18% year over year, Operating margin was 1.76%. Net income increased 2.9% sequentially to NT$1.555 billion and increased 16.6% year over year. Unaudited EPS was NT$0.94 for third Quarter.
Consolidated sales of first three quarters was NT$335.396 billion, Operating income was NT$6.163 billion, net income was NT$4.461 billion , represented 13.7%, 27.1% and 18.9% double-digit growth year over year . EPS was NT$2.69 per share.
The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end smart phone, tablet, wireless broadband and NB were continued growing. Non-3C segments’ contribution such as automobile, medical and industrial electronics remained healthy. With increased profit and improving operating efficiency, Key financial indices: Return on Working Capital (ROWC) and ROE was 10.3% and 15.3% respectively.
Management guides the total sales of fourth quarter 2014 will be between NT$107.5 billion and NT$112.5 billion, with the gross margin in the range of 4.4%~4.7% and the operating margin between 1.5%~1.7%.
In the third quarter of 2014, 78 application solutions were provided in the fields of Security (14), Industrial (13), cell phone / communication (11), Lighting (11), Medical(10), automotive (9), Power (4), MB (3), computer (including Tablet)/ peripheral (2) and MID (1), focusing on applications of IP Camera, lithium battery, smart phone, LED dimming, telemedicine, wearable medical device, multi-functional door zone drive, rain-sensing wipers, LED lighting, MB, NB, and 4G LTE chip.
Table: WPG Holdings Consolidated Management Financials for the quater ended September 30, 2014. (in brief)
Units：NT$ million
Income Statement (2014/1/1~2014/9/30) Balance Sheet (2014/9/30)
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
335,396 |
|
Current Assets |
144,442 |
|
Cost of Goods Sold |
(319,971) |
|
Accounts receivables |
80,309 |
|
Gross Profit |
15,426 |
|
Inventories |
47,723 |
|
Operating Expenses |
(9,263) |
|
Other assets |
13,679 |
|
Operating income |
6,163 |
|
Total Assets |
158,122 |
|
Non-op Expenses |
(689) |
|
Current Liabilities |
102,719 |
|
Profit Before Tax |
5,474 |
|
Current Borrowing |
49,366 |
|
Tax |
(1,003) |
|
Accounts payables |
46,446 |
|
Minority & Others |
(9) |
|
LT Liabilities |
12,940 |
|
Profit After tax |
4,461 |
|
Total Liabilities |
116,418 |
|
EPS (Note) |
2.69 |
|
Common Stock |
16,557 |
|
Net book value per share (Note) |
25.15 |
|
Total Equity |
41,703 |
Note：Based on weighted average outstanding shares.
Cash flows (2014/1/1~2014/9/30)
|
Item |
Amount |
|
Income before Income Tax |
5,474 |
|
Change in NWC |
(13,395) |
|
Operating cash inflow /(outflow) |
(7,366) |
|
Investment cash inflow /(outflow) |
125 |
|
Change in Financial Debt |
11,238 |
|
Financing cash inflow /(outflow) |
7,428 |
|
Cumulative translation adjustments |
943 |
|
Net Cash |
1,130 |
|
Beginning cash balance |
9,459 |
|
Ending cash balance |
10,589 |
IR contacts：Cliff Yuan/ Zoe Peng
Tel：886-2-7712-5268 / 886-2-7712-5262
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com