LITEON Technology Reports 2022 Nine-Month Net Profit of NT$10.3 Billion with EPS of NT$ 4.51, Record Gross Profit and Operating Profit

TAIPEI, Oct. 20, 2022 /PRNewswire/ -- LITEON Technology (2301-tw) reported third quarter consolidated sales of NT$46.2 billion, up 7% Q-o-Q, 10% Y-o-Y, supported by delivery growth from power management in cloud computing, automotive electronics and high-end photocouplers, a record of the same period in 3 years. Thanks to the product-mix optimization, increasing output value and market share gain, gross profit margin was 19.5%, up 0.2ppt Y-o-Y and gross profits reached NT$9 billion; operating profit margin was 9.5%, up 1.1ppt Y-o-Y, operating profit reached NT$4.4 billion. Net profits were NT$4.2 billion, with a record EPS of NT$1.86, up 40% Y-o-Y. Net cash reached NT$36.6 billion, attributable to the aggressive working capital management and strong positive free cash flow generated from operation.

LITEON continues to achieve the goal of profitable growth. Cumulated sales of first nine months of 2022 reached NT$130.4 billion, up 8% Y-o-Y, gross profit margin and operating profit margin were 19.1% and 9%, up 0.1ppt and 1.2ppt Y-o-Y respectively, also a record of the same period. Gross profit and operating profit were NT$24.8 billion and NT$11.7 billion, up 9% and 25% Y-o-Y respectively. Net profit totaled NT$10.3 billion with EPS of NT$4.51. Meanwhile, the R&D expense reached 4% of sales, up around 20% Y-o-Y, majorly investing in software, firmware and system integration of three core growth business.

"In the third quarter, revenue and operating profit increased by 10% and 25%Y-o-Y respectively; EPS was up by 40% Y-o-Y, a quarterly record. LITEON gained dominant market share in new models and tenders of major global datacenter customers, as the consequence of investing product development in advanced power systems in the past years. In automotive electronics, we assured smooth delivery growth from LED vehicle lighting, ADAS camera modules and new model launches of EV chargers, and win new business from automotive brands, high-end commercial fleets, as well as European and American charging station operators. Furthermore, the capacity expansion in North America is expected that the power management system for data center and EV chargers will ramp up the trial production in the second half of 2023." said Mr. Anson Chiu, President of LITEON Technology.

Looking ahead, LITEON expects the sequential growth in the Q4 revenue and profit, mainly driven by cloud computing power management, 5G small cells, AIoT, automotive electronics and photocouplers.

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