WPG (TSE:3702) Reports Its Consolidated Sales and Gross Profit of 2nd Quarter, Both set Single Quarter Record High; And a Better Than Expectation 2nd Quarter Operating Margin of 1.91%; EPS was NT$0.74 and NT$1.31 for 2nd Quarter and 1st Half Respectively.
WPG (TSE:3702) Reports Its Consolidated Sales and Gross Profit of 2ndQuarter, Both set Single Quarter Record High; And a Better Than Expectation 2ndQuarter Operating Margin of 1.91%; EPS was NT$0.74 and NT$1.31 for 2ndQuarter and 1stHalf Respectively.
Taipei, Taiwan
2012/08/08
Benefited from increased demand of emerging markets such as China, India and Indonesia, WPG, the largest distributor of semiconductor components in Asia, announced its second quarterconsolidatedsales ofNT$91billion and gross profit reachedNT$4.79billion, both set single quarter record. Operating margin reached 1.91%, exceeded high side of second quarter’s 1.6%~1.8% guidance. Unaudited net income of second quarterwas NT$1.21 billion and NT$0.74 per share. Consolidated sales of first half was NT$171.8 billion, net income was NT$2.14 billion and NT$1.31 per share.
The profit growth has been delivered by strong domestic demand of emerging markets. Contribution of 3C products such as mid to low end smartphone, tablet, wireless broadband, Ultrabook, NB and STB were continued growing. Non-3C segments’ contribution such as automobile, Medical and industrial electronics were doubled to 10% of consolidated sales compared with second quarter of previous year. Return on Working Capital (ROWC) and ROE was 11.8% and13%respectively.
Management guidesthe total sales of thirdquarter 2012 will be between NT$93billion and NT$ 98billion, with the grossmargin in the range of 5.0%~5.2% and the average operating margin is 1.7%~1.9%.
To increase added value service and market share , application solutions on drive recorder, remote keyless entry, car entertainment system, 3D TV, tablet and smartphone totaled around 50 solutions were introduced during thesecond quarterof 2012, (in the fields of automotive (24), consumer electronics (12), computer / peripheral (8) and cell phone / communication (6)).
Table: WPG Holdings Consolidated Management Financials for the quarter ended June30, 2012. (in brief)
Units🏋️♀️：NT$ million
Income Statement (2012/1/1~2012/6/30) |
| Balance Sheet (2012/6/30) | ||
|---|---|---|---|---|
Item | Amount |
| Item | Amount |
Net Sales | 171,829 |
| Current Assets | 109,934 |
Cost of Goods Sold | (162,882) |
| Accounts receivables | 56,421 |
Gross Profit | 8,946 |
| Inventory | 38,921 |
Operating Expenses | (5,941) |
| Other assets | 12,559 |
Operating Profit | 3,005 |
| Total Assets | 122,493 |
Non-op Expenses | (250) |
| Current Liabilities | 81,355 |
Profit Before Tax | 2,755 |
| Accounts payables | 36,626 |
Tax | (619) |
| LT Liabilities | 3,633 |
Minority & Others | 9 |
| Total Liabilities | 85,553 |
Profit After tax | 2,145 |
| Common Stock | 16,557 |
EPS (Note) | 1.31 |
| Stockholders Equity | 36,940 |
Net book value per share(Note) | 22.59 |
| ||
Note：Based on weighted average outstanding shares.
Cash flows (2012/1/1~2012/6/30) | |
Item | Amount |
Net Income | 2,136 |
Changes of NWC | (5,525) |
Operating cash inflow /(outflow) | (2,779) |
Investment cash inflow /(outflow) | (491) |
Financial Debt | 614 |
Financing cash inflow /(outflow) | 4,148 |
Cumulative translation adjustments | (110) |
Foreign Exchange | (439) |
Net Cash | 329 |
Beginning cash balance | 7,786 |
Ending cash balance | 8,115 |
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