WPG (TSE:3702) Announced Its Record High in Consolidated Sales, Operating Profit and Net Income of Second Quarter; EPS was NT$0.91 and NT$1.75 for Second Quarter and YTD Respectively.
WPG (TSE:3702) Announced Its Record High in Consolidated Sales, Operating Profit and Net Income of Second Quarter; EPS was NT$0.91 and NT$1.75 for Second Quarter and YTD Respectively.
2014/08/04
Benefited from effective expense control and increased demand of emerging markets combined with growing shipments of low-end communication electronic products, cloud computing and consumer electronics, WPG, the largest distributor of semiconductor components in Asia, announced its record high in Consolidated Sales, Operating Profit and Net Income of Second Quarter. The reported second quarter consolidated sales reached NT$113.76 billion, over the expectation. Gross Margin reached 4.67%, near the high side of 4.3%~4.6% guidance. Benefited from effective expense control, expense of sales were cut down to 2.77%, Operating profit was NT$2.152 billion, represented 27.4% increase over previous year’s figures, set the groups quarterly record. Operating margin reached 1.89%, near the high side of 1.65%~1.9% guidance. Net income was NT$1.51 billion, represented 8.2% and 9.6% increase over previous quarter’s figures and previous year’s figures. EPS was NT$0.91 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 smart phone, tablet, wireless broadband and NB 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 11.5% and 15.3% respectively.
Management guides the total sales of third quarter 2014 will be between NT$118 billion and NT$123 billion, with the gross margin in the range of 4.4%~4.7% and the operating margin between 1.75%~1.95%.
In the Second quarter of 2014, 58 application solutions were provided in the fields of Industrial (18), cell phone / communication (13), MID (9), Lighting (7), computer (including Tablet)/ peripheral (4), Energy (4) and MB (3), focusing on applications of digital power, small home appliance and power supply, smart phone, low-cost quad-core smart phone, NFC-enabled cell phones, tablet, cloud, NAS-Network Attached Storage, micro inverter and MB
Table: WPG Holdings Consolidated Management Financials for the year ended June 30, 2014. (in brief)
Units：NT$ million
Income Statement (2014/1/1~2013/6/30) Balance Sheet (2014/6/30)
|
Item |
Amount |
|
Item |
Amount |
|
Net Sales |
216,047 |
|
Current Assets |
130,540 |
|
Cost of Goods Sold |
(205,934) |
|
Accounts receivables |
73,335 |
|
Gross Profit |
10,113 |
|
Inventory |
42,011 |
|
Operating Expenses |
(6,053) |
|
Other assets |
14,024 |
|
Operating Profit |
4,061 |
|
Total Assets |
144,564 |
|
Non-op Expenses |
(446) |
|
Current Liabilities |
100,752 |
|
Profit Before Tax |
3,615 |
|
Current Borrowing |
50,443 |
|
Tax |
(705) |
|
Accounts payables |
40,366 |
|
Minority & Others |
(4) |
|
LT Liabilities |
4,051 |
|
Profit After tax |
2,906 |
|
Total Liabilities |
105,540 |
|
EPS (Note) |
1.75 |
|
Common Stock |
16,557 |
|
Net book value per share (Note) |
23.52 |
|
Stockholders Equity |
39,025 |
Note：Based on weighted average outstanding shares.
Cash flows (2014/1/1~2014/6/30)
|
Item |
Amount |
|
Income before Income Tax |
3,615 |
|
Change in NWC |
(6,541) |
|
Operating cash inflow /(outflow) |
(3,583) |
|
Investment cash inflow /(outflow) |
262 |
|
Change in Financial Debt |
3,427 |
|
Financing cash inflow /(outflow) |
3,423 |
|
Cumulative translation adjustments |
52 |
|
Net Cash |
154 |
|
Beginning cash balance |
9.459 |
|
Ending cash balance |
9,612 |
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