Taiwan-based LED packaging houses Everlight Electronics, Harvatek and Bright LED Electronics saw net profit for the third quarter drop sequentially by 20%, 45% and 13.86%, respectively.
Everlight's revenues reached NT$4.76 billion (US$156.2 million) in the third quarter, and gross profit from operation came to NT$1.11 billion with an operating margin of 12.14%, down from the average of 30.41% in the first half of the year. Net profit for the third quarter totaled NT$683 million with an EPS of NT$1.63.
Revenues for the first three quarters of 2010 totaled NT$12.81 billion, gross margin was 27.78% and net profit amounted to NT$2.09 billion with an EPS of NT$5.
Harvatek's revenues totaled NT$1.12 billion in the third quarter. Gross profit from operation was NT$195 million with a gross margin of 17.4%. Net profit was NT$65 million, down from NT$120 million in the second quarter. EPS for the third quarter was NT$0.33.
Accumulated revenues for the first three quarters of 2010 totaled NT$2.9 billion, up about 49% on year. Gross margin for the period was 21.76%, and net profit came to NT$279 million with an EPS of NT$1.46.
Bright LED's revenues for the third quarter decreased by about 6% to NT$1.41 billion, while gross margin increased to 16.56% from 15.59% in the second quarter due to improved product mix. Gross profit from operation for the quarter was NT$190 million with an operating margin of 13.52%. Net profit for the third quarter was NT$143 million with an EPS of NT$0.73.
Revenues for the first three quarters of 2010 totaled NT$3.95 billion, and net profit reached NT$344 million with an EPS of NT$1.75.
LED packaging houses: Income statement, 2Q10 (NT$k) |
Item | Everlight Electronics | Bright LED | Harvatek |
Gross sales | 8,110,927 | 2,535,499 | 1,818,330 |
Operating revenue | 8,046,741 | 2,536,936 | 1,779,054 |
Gross profit (loss) from operations | 2,447,042 | 381,983 | 435,388 |
Operating expenses | 1,157,045 | 153,619 | 182,961 |
Operating income (loss) | 1,289,997 | 228,364 | 250,991 |
Income from continuing operations before income tax | 1,559,629 | 263,234 | 285,192 |
Net income (loss) | 1,406,430 | 201,260 | 214,365 |
Fully-diluted earnings per share | 3.2 | 0.9 | 1.1 |
*Figures are not consolidated
Source: TSE, compiled by Digitimes, November 2010