WPG (TSE:3702) Reported Its Second-Highest Quarterly Net income of NT$1.842 Billion for First Quarter 2017, EPS was NT$1.06.
WPG (TSE:3702) Reported Its Second-Highest Quarterly Net income of NT$1.842 Billion for First Quarter 2017, EPS was NT$1.06.
2017/05/03
Benefited from growing shipments of mobile phone, automotives, power saving and cloud product, WPG, the largest distributor of semiconductor components in Asia, announced its first quarter consolidated sales of NT$1.191 billion decreased 2% year-over-year. Despite NT dollar’s recent appreciation had impact on first quarter consolidated sales, with optimizing product assortment and under effective expense control, operating income was NT$2.258 billion, represented 7.7% increase over previous year. Contribution from FX gains about NT$0.11 billion and bad debts recovered about NT$0.17 billion, net income grew 18.5% to NT$1.842 billion, hit second-highest quarterly record. EPS was NT$1.06 per share.
The profit growth has been delivered by continued growing demand of 4G and 3G smart phone, wireless broadband, and cloud servers. Non-3C segments’ contribution such as automotives, industrial electronics and power saving remained healthy. With increased profit and improving operating efficiency, operating cash inflow of first quarter was NT$3.338 billion. Key financial indices: Return on Working Capital (ROWC) and ROE was 9.6% and 15% respectively.
In the first quarter of 2017, driven by the IoT, 90 application solutions were provided in the fields of Smart Home (30), Automotive (20), Smart City (13), Wearable devices (10), Smart phone (8), Industrial (8), Medical (1), focusing on applications of smart air filter, temperature sensor, smart lock, smart door bell, smart plug, electric curtain, TPMS, ADAS, in-vehicle infotainment system, BMS, 360 degree car video recorder, BLDC/PMSM, wheeled mobile robot, drone, charging pile, door access control systems, pressure sensor, wireless smart headphone, radar sensors.
Table: WPG Holdings Consolidated Management Financials for the year ended March 31, 2017. (In brief)
Units：NT$million
|
Income Statement (2017/1/1~2017/3/31) |
|
Balance Sheet (2017/3/31) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
119,100 |
|
Current Assets |
162,332 |
|
Cost of Goods Sold |
(113,936) |
|
Accounts receivables |
80,070 |
|
Gross Profit |
5,165 |
|
Inventories |
62,486 |
|
Operating Expenses |
(2,907) |
|
Other assets |
14,171 |
|
Operating income |
2,258 |
|
Total Assets |
176,503 |
|
Non-op Expenses |
(1) |
|
Current Liabilities |
121,381 |
|
Profit Before Tax |
2,257 |
|
Current Borrowing |
66,933 |
|
Tax |
(395) |
|
Accounts payables |
48,786 |
|
Minority & Others |
(20) |
|
LT Liabilities |
5,094 |
|
Profit After tax |
1,842 |
|
Total Liabilities |
127,617 |
|
EPS (Note1) |
1.06 |
|
Common Stock |
17,419 |
|
Net book value per share (Note) |
27.93 |
|
Total Equity |
48,886 |
Note1：Based on weighted average outstanding shares.
|
Cash flows (2017/1/1~2017/3/31) |
|
|
Item |
Amount |
|
Income before Income Tax |
2,257 |
|
Change in NWC |
677 |
|
Operating cash inflow /(outflow) |
3,338 |
|
Investment cash inflow /(outflow) |
(293) |
|
Change in Financial Debt |
(549) |
|
Financing cash inflow /(outflow) |
(558) |
|
Cumulative translation adjustments |
(3,941) |
|
Net Cash |
(1,455) |
|
Beginning cash balance |
8,457 |
|
Ending cash balance |
7,002 |
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