LITEON Technology Reports the First Half Net profits of NT$6.1 Billion, EPS of NT$2.66

TAIPEI, July 19, 2022 /PRNewswire/ -- LITEON Technology (2301-tw), the world-leading provider of opto-semiconductor, power supply management and key electronic products, today reported second quarter consolidated sales of NT$ 43 billion, hitting second quarter record high in 3 consecutive years, attributable to the stable growth from opto-electronics, cloud computing, 5G, AIoT and automotive applications. Despite the supply chain lockdowns in East China, by actively optimizing product mix, managing global capacity with quicky response and flexibility, and continuously improving operational efficiency, LITEON three business divisions kept the growth momentum. The gross profits and operating profits reached NT$8.8 billion and NT$4.4 billion, up 10% and 15% Y-o-Y respectively; gross profit margin and operating profit margin were 20.4% and 10.2%, both hit record highs. Net profits were NT$ 4 billion, with EPS of NT$1.74. Net cash reached NT$32.1 billion, thanks to the aggressive working capital management and strong positive free cash flow generated from operation.

In the first half of 2022, LITEON's operational performance continued to enhance. The accumulative sales reached NT$84.2 billion, up 7% Y-o-Y, while gross margin and operating margin were 18.8% and 8.7%; gross profits and operating profits were NT$15.8 billion and NT$7.4 billion, up 8% and 24% Y-o-Y respectively; net profits were NT$6.1 billion with an EPS of NT$2.66. Moreover, operating profits hit a record in the same period, demonstrating LITEON's operational efficiency, resilience and strong competence to respond quickly and flexibly.

"LITEON continues to achieve the goal of profitable growth. The increase in profits serves as a result of the continuous expansion of Opto-electronics and Cloud computing business. LITEON focuses on rapid growing fields, such as power management solutions for cloud computing applied in data centers, opto-semiconductors applied in automotive electronics, fast charging of electric vehicles, 5G small cells, and AIoT. Through continuous investments in the research and development, more and better energy-saving products and solutions are expected to be launched. We are confident of the sequential growth in the third quarter," said Mr. Anson Chiu, President of LITEON Technology.

In the third quarter, under the assumption that the gradually stabilized global supply chain and logistics, market demand from cloud computing, Automotive Electronics, Infrared products of opto-semiconductors applied in green energy and industrial application is expected to bring a stable profit and sales growth.