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WPG (TSE:3702) Reports Its Third Quarter figures, Consolidated Sales was NT$107.7 Billion, set Single Quarter Record High; EPS was NT$0.81.

 2013-10-31

WPG (TSE:3702) Reports Its Third Quarter figures, Consolidated Sales was NT$107.7 Billion, set Single Quarter Record High; EPS was NT$0.81.

 

2013/10/31

 

Benefited from increased demand of emerging markets combined with growing shipments of smartphone and tablet, WPG, the largest distributor of semiconductor components in Asia, announced its third quarter consolidated sales of NT$107.7 billion, set single quarter record. Gross profit margin was 4.65%, in line with expectation of 4.6%~4.8%, Operating margin was 1.65%, also in line with third quarter’s 1.65%~1.85% guidance. Unaudited net income of third quarter was NT$1.334 billion and NT$0.81 per share. Consolidated sales of first three quarters was NT$294.97 billion, net income was NT$3.751 billion and NT$2.26 per share.

 

The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end smartphone, tablet, wireless broadband and STB were continued growing. Non-3C segments’ contribution such as automobile, medical and industrial electronics remained healthy. Key financial indices:  Return on Working Capital (ROWC) and ROE was 10.3% and 13.9% respectively, Inventory turnover day decreased to 35 days.

 

Management guides the total sales of forth quarter 2013 will be between NT$95 billion and NT$ 100 billion, with the gross margin in the range of 4.5%~4.7% and the operating margin between 1.35%~1.55%.

 

In the third quarter of 2013, 51 application solutions were provided in the fields of Industrial (15), cell phone / communication (13), automotive (9), computer (including Tablet)/ peripheral (8)and consumer (6), focusing on applications of Infotainment, surveillance, smart meter, e-wallet, smart watch, tablet and LED lighting.

 

 

Table: WPG Holdings Consolidated Management Financials for the quarter ended September 30, 2013. (in brief)

                                                                                                                                                                      Units:NT$ million

Income Statement (2013/1/1~2013/09/30)

 

Balance Sheet (2013/09/30)

Item

Amount

 

Item

Amount

Net Sales

294,971

 

Current Assets

123,094

Cost of Goods Sold

(280,938)

 

Accounts receivables

69,370

Gross Profit

14,033

 

Inventory

40,194

Operating Expenses

(9,185)

 

Other assets

14,357

Operating Profit

4,848

 

Total Assets

137,451

Non-op Expenses

(269)

 

Current Liabilities

94,270

Profit Before Tax

4,579

 

Accounts payables

40,802

Tax

(825)

 

LT Liabilities

3,729

Minority & Others

(2)

 

Total Liabilities

98,870

Profit After tax

3,751

 

Common Stock

16,557

EPS (Note)

2.26

 

Stockholders Equity

38,581

Net book value per share (Note)

23.26

 

Note:Based on weighted average outstanding shares.

 

 

Cash flows (2013/1/1~2013/09/30)

Item

Amount

Income before Income Tax

4,579

Change in NWC

(9,124)

Operating cash inflow /(outflow)

(5,825)

Investment cash inflow /(outflow)

(576)

Change in Financial Debt

9,208

Cash Dividend

(3,974)

Financing cash inflow /(outflow)

5,234

Cumulative translation adjustments

605

Net Cash

(562)

Beginning cash balance

8,872

Ending cash balance

8,310

 

IR contacts:Cliff Yuan/ Kathryn Chen / Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5278 / 886-2-7712-5262

Email address: ir@WPGholdings.com

Corporate website: www.WPGholdings.com