WPG (TSE:3702) Reports Its Consolidated Operating Profit of First Quarter Set Single Quarter Record High; With 34.1% YoY Net Income increase, Diluted EPS of NT$0.84
WPG (TSE:3702) Reports Its Consolidated Operating Profit of First Quarter Set Single Quarter Record High; With 34.1% YoY Net Income increase, Diluted EPS of NT$0.84
2014/05/06
Benefited from increased demand and growing shipments of smart phone ,tablet, cloud computing and consumer electronics, WPG, the largest distributor of semiconductor components in Asia, announced its first quarter consolidated sales reached NT$102.3 billion, over the expectation and exceeded NT$100 Billion. Gross Margin also reached 4.7%, over the high side of 4.3%~4.6% guidance. Benefited from effective expense control, expense of sales were cut down to 2.83%, Operating profit was NT$1.98 billion, represented 38.2% increase over previous year’s figures. Operating margin reached 1.86%, over the high side of 1.4%~1.65% guidance and also set the groups quarterly record. Net income was NT$1.395 billion, represented 38.7% and 34.1% increase over previous quarter’s figures and previous year’s figures. EPS was NT$0.84 per share.
The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end and low-end smartphone, tablet, and wireless broadband was 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 10.8% and 13.6% respectively.
Management guides the total sales of Second quarter 2014 will be between NT$105 billion and NT$ 110 billion, with the gross margin in the range of 4.4%~4.7% and the operating margin between 1.65%~1.9%.
In the first quarter of 2014, 62 application solutions were provided in the fields of Industrial (27), Lighting (11), Security (10), cell phone / communication (8), MID (4) and MB (2), focusing on applications of small home appliance and power supply, wireless power, low power electronics, Internet Of Things(IoT), wireless communication, surveillance, dim LED, smart phone, tablet and MB.
Table: WPG Holdings Consolidated Management Financials for the year ended March 31, 2014. (in brief)
Units：NT$ million
|
Income Statement (2014/1/1~2014/3/31) |
|
Balance Sheet (2014/3/31) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Net Sales |
102,329 |
|
Current Assets |
126,822 |
|
Cost of Goods Sold |
(97,523) |
|
Accounts receivables |
69,874 |
|
Gross Profit |
4,806 |
|
Inventory |
41,181 |
|
Operating Expenses |
(2,898) |
|
Other assets |
14,256 |
|
Operating Profit |
1,908 |
|
Total Assets |
141,078 |
|
Non-op Expenses |
(179) |
|
Current Liabilities |
93,899 |
|
Profit Before Tax |
1,729 |
|
Current Borrowing |
48,568 |
|
Tax |
(336) |
|
Accounts payables |
40,153 |
|
Minority & Others |
2 |
|
LT Liabilities |
4,176 |
|
Profit After tax |
1,395 |
|
Total Liabilities |
98,781 |
|
EPS (Note) |
0.84 |
|
Common Stock |
16,557 |
|
Net book value per share (Note) |
25.48 |
|
Stockholders Equity |
42,297 |
Note：Based on weighted average outstanding shares.
|
Cash flows (2014/1/1~2014/3/31) |
|
|
Item |
Amount |
|
Income before Income Tax |
1,729 |
|
Change in NWC |
(2,464) |
|
Operating cash inflow /(outflow) |
(2,037) |
|
Investment cash inflow /(outflow) |
(4) |
|
Change in Financial Debt |
1,676 |
|
Financing cash inflow /(outflow) |
1,672 |
|
Cumulative translation adjustments |
1,033 |
|
Net Cash |
664 |
|
Beginning cash balance |
9,459 |
|
Ending cash balance |
10,122 |
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