AUO Reports 4Q2009 and Fiscal 2009 Financial Results
By Au Optronics Corp., PRNEWednesday, January 27, 2010
HSINCHU, Taiwan, January 28 - AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO)
today announced unaudited results for 4Q2009 and Fiscal 2009. For the fourth
quarter ended December 31, 2009, AUO posted consolidated revenue of NT$114.9
billion (US$3.6 billion, up 3.3% from the previous quarter), operating income
of NT$1.9 billion (US$59 million), net loss of NT$7.9 billion (US$246
million), attributable to equity holders of the parent company NT$6.9 billion
(US$217 million), and basic EPS of -NT$0.78 per common share (-US$0.25 per
ADR) in the fourth quarter.
4Q2009 Result Highlights
AUO reported the following unaudited consolidated results for the fourth
quarter of Fiscal 2009:
-- Revenue of NT$114.9 billion, up 3.3% quarter-over-quarter -- Net loss of NT$7.9 billion -- Basic EPS of -NT$0.78 per common share -- Gross margin of 7.6% -- Operating margin of 1.7% -- EBITDA (*) margin of 22.0%
Fiscal 2009 Result Highlights
AUO reported the following unaudited consolidated results for the full
year 2009:
-- Revenue of NT$359.3 billion, down 15.2% year-over-year -- Net loss of NT$27.2 billion -- Basic EPS of -NT$3.04 per common share
For the year of 2009, AUO's large-sized panels totaled to 89.6 million
units, up 12.5% year-over-year. In terms of small- and medium-sized panels,
the shipment was over 228.6 million units, an increase of 21.6% from the
previous year.
"We are pleased that AUO's 4Q2009 shipments of large-sized panels
achieved a historical high and beat our previous guidance from the 3Q2009
investor conference," said Mr. Andy Yang, Chief Financial Officer of AUO.
"Despite the unfavorable panel pricing trends, AUO still delivered positive
operating margins, thanks to the management team's swift response to
customers' needs and timely adjustment of the product mix. With continuing
product innovation and strong R&D capability, our company was able to report
the EBITDA margin of 22%, leading our industry peers. To further strengthen
our balance sheet, the company continues to spend great efforts in managing
free cash flows, which successfully reduced our gearing rates and maintained
a healthy inventory level."
Looking into 2010, AUO believes the year will be full of prosperity and
business opportunities. In order to fulfill customers' demands and to capture
the robust growths in the mainland China market, the Company aims to do a
"smart expansion" and properly add its capacity investment at the right
moment. In addition to its core TFT business, AUO plans to accelerate its
developments in cutting-edge technologies and new businesses, to further
seize the growing opportunities in innovative applications in the coming
decade.
* EBITDA=Operating Income + D&A * Amounts converted by an exchange rate of NTD31.95:USD1 as of December 31, 2009. * All financial information was unaudited and was prepared by the Company in accordance with generally accepted accounting principles in Taiwan ("ROC GAAP")
About AU Optronics
AU Optronics Corp. (AUO) is a worldwide top three manufacturer* of thin
film transistor liquid crystal display panels (TFT-LCD). AUO is able to
provide customers with a full range of panel sizes and comprehensive
applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to
greater than 65 inches. AUO generated consolidated sales revenue NT$359.3
billion (US$11.2 billion) in 2009 with global operations located in Taiwan,
Mainland China, Japan, Singapore, South Korea, the U.S., and Europe.
Additionally, AUO is the first pure TFT-LCD manufacturer to successfully list
at the New York Stock Exchange (NYSE). AUO extended its market to green
energy industry in the end of 2008, and formally founded The Solar
Photovoltaic Business Unit in October, 2009. For more information, please
visit AUO.com.
* DisplaySearch 3Q2009 WW Large-Area TFT-LCD Shipment Report. This data
is used as reference only and AUO does not make any endorsement or
representation in connection therewith. 2009 year end revenue converted by an
exchange rate of NTD31.95:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a
worldwide top three manufacturer of large-size TFT-LCD panels, today
announced the above news. Except for statements in respect of historical
matters, the statements contained in this Release are "forward-looking
statements" within the meaning of Section 27A of the U.S. Securities Act of
1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These
forward-looking statements were based on our management's expectations,
projections and beliefs at the time regarding matters including, among other
things, future revenues and costs, financial performance, technology changes,
capacity, utilization rates, yields, process and geographical diversification
, future expansion plans and business strategy. Such forward looking
statements are subject to a number of known and unknown risks and
uncertainties that can cause actual results to differ materially from those
expressed or implied by such statements, including risks related to the flat
panel display industry, the TFT-LCD market, acceptance and demand for our
products, technological and development risks, competitive factors, and other
risks described in the section entitled "Risk Factors" in our Form 20-F filed
with the United States Securities and Exchange Commission on June 4th, 2008.
Freda Lee, +886-3-5008800 x3206, +886-3-5772730 (fax), freda.lee at auo.com, or Yawen Hsiao, +886-3-5008800 x3211, +886-3-5772730 (fax), yawen.hsiao at auo.com, both Corporate Communications Division of AU Optronics Corp.
Tags: Au Optronics Corp., Hsinchu, Scandinavia, taiwan, Western Europe
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