WPG (TSE:3702) Reports First-Quarter Operating Margin reached 1.85%, Exceeded Expectations. First-Quarter Operating Income Set Single Quarter Record High of NT$2 Billion. EPS was NT$0.84.
WPG (TSE:3702) Reports First-Quarter Operating Margin reached 1.85%, Exceeded Expectations. First-Quarter Operating Income Set Single Quarter Record High of NT$2 Billion. EPS was NT$0.84.
2015/5/5
Benefited from growing shipments of mobile phone, communication-related components, automotives, industrial electronics, and cloud applications, WPG, the largest distributor of semiconductor components in Asia, announced Its first-quarter consolidated sales reached NT$108.14 billion. Under productivity improvement and effective expense control, operating expenses to sales ratio declined continuously and operating margin reached 1.85%, exceeded expectations. First-quarter operating income set single quarter record high of NT$2 billion. Net income of first quarter was NT$1.398 billion. EPS was NT$0.84 per share.
The profit growth has been delivered by continued growing demand of 3G and 4G mid to high-end and low-end smart phone, tablet, wireless broadband, cloud servers and televisions. Non-3C segments’ contribution such as automotives and industrial electronics remained healthy. With increased profit and improving operating efficiency, operating cash inflow of first quarter was NT$5.947 billion. Key financial indices: Return on Working Capital (ROWC) and ROE was 9.7% and 12.3% respectively.
Management guides the total sales of second quarter 2015 will be between NT$117 billion and NT$122 billion, with the gross margin in the range of 4.2%~4.5% and the operating margin between 1.6%~1.8%.
In the first quarter of 2015, 72 application solutions were provided in the fields of Smart phone (13), Computer (11), Wearable devices (11), Smart Home (9), Automotive (9), Lighting (8), Security (6), Industrial (3), Energy (2), focusing on applications of NFC, OIS for mobile phone, tablet, UV Sensors, light sensor, wearable devices, home health care, home security, rearview mirror, LED smart Lighting, IP camera, Thermocouple reader, battery monitor.
Table: WPG Holdings Consolidated Management Financials for the quarter ended March 31, 2015. (In brief)
Units：NT$ million
Income Statement (2015/1/1~2015/3/31) Balance Sheet (2015/3/31)
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
108,014 |
|
Current Assets |
143,849 |
|
Cost of Goods Sold |
(103,200) |
|
Accounts receivables |
72,216 |
|
Gross Profit |
4,814 |
|
Inventories |
55,163 |
|
Operating Expenses |
(2,814) |
|
Other assets |
13,903 |
|
Operating income |
2,000 |
|
Total Assets |
157,752 |
|
Non-op Expenses |
(245) |
|
Current Liabilities |
97,840 |
|
Profit Before Tax |
1,755 |
|
Current Borrowing |
46,198 |
|
Tax |
(355) |
|
Accounts payables |
45,278 |
|
Minority & Others |
(2) |
|
LT Liabilities |
13,192 |
|
Profit After tax |
1,398 |
|
Total Liabilities |
111,848 |
|
EPS (Note) |
0.84 |
|
Common Stock |
16,557 |
|
Net book value per share (Note) |
27.66 |
|
Total Equity |
45,904 |
Note：Based on weighted average outstanding shares.
Cash flows (2015/1/1~2015/3/31)
|
Item |
Amount |
|
Income before Income Tax |
1,755 |
|
Change in NWC |
6,371 |
|
Operating cash inflow /(outflow) |
5,947 |
|
Investment cash inflow /(outflow) |
167 |
|
Change in Financial Debt |
(90) |
|
Financing cash inflow /(outflow) |
(7,388) |
|
Cumulative translation adjustments |
(625) |
|
Net Cash |
(1,898) |
|
Beginning cash balance |
11,185 |
|
Ending cash balance |
9,287 |
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