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WPG (TSE:3702) Announced Its Record High in Consolidated Sales, Gross Profit and Operating Income.

 2012-02-07

WPG (TSE:3702) Announced Its Record High in Consolidated Sales, Gross Profit and Operating Income.

Taipei, Taiwan                                                   

2012/02/07

 

Benefited from expansion of emerging markets such as China and India, and synergy of its M&A, WPG, the largest distributor of semiconductor components in Asia, announced its record high in consolidated sales, gross profit and operating income. The reported 2011consolidatedsales reachedNT$332.4billion, representing 29.2% growth over the previous year. Net income of 2011was NT$5.14 billion and NT$3.25 per share on a diluted basis. Moreover, due to continuous profit injection and effective portfolio management, the company’s operation generated a record high single quarter operating cash inflow of NT$8.8 billion during 4thquarter 2011.

 

The growth has been delivered by emerging market expansion and continuousproduct mix optimization. Revenue contribution of smartphone, wireless broadband and tablet pc continued increasing. Non-3C segments such as automobile and industrial electronics have been growing to 10%. Inventory turnover days decreased to 37 days, Return on Working Capital (ROWC) and ROE was 12.8% and14.5%respectively.

 

Management guidesthe total sales of the first quarter will be between NT$75billion and NT$ 79billion, with the grossmargin in the range of 5.3%~5.5% and the average operating margin is 1.4%~1.6%.

 

In the 4thquarter2011, more than 60application solutions were provided in the fields of computer and peripheral (21), industrial electronics (17), cell phone and communication (13),consumer electronics (9), and general (1), focusing on applications of industrial PC, tablet PC, POS, power management, green energy, wifi, 4G(WiMAX) and LED lighting.(for more information please visit WPG Tech on-line, http://www.wpgholdings.com/wpgtechonline.php).”

 

 

Table: WPG Holdings Consolidated Management Financials for the quarter ended December 31, 2011. (in brief)

Units:NT$ million

 

Income Statement (2011/1/1~2011/12/31)

 

Balance Sheet (2011/12/31)

Item

Amount

 

Item

Amount

Net Sales

332,409

 

Current Assets

98,373

Cost of Goods Sold

(314,295)

 

Accounts receivables

47,563

Gross Profit

18,114

 

Inventory

33,441

Operating Expenses

(11,389)

 

Other assets

11,199

Operating Profit

6,724

 

Total Assets

109,573

Non-op Expenses

(401)

 

Current Liabilities

65,600

Profit Before Tax

6,323

 

Accounts payables

28,366

Tax

(1,157)

 

LT Liabilities

5,456

Minority & Others

(20)

 

Total Liabilities

71,669

Profit After tax

5,146

 

Common Stock

15,839

EPS (Note)

3.25

 

Stockholders Equity

37,904

Net book value per share(Note)

23.45

 

Note:Based on weighted average outstanding shares.

 

 

 

Cash flows (2011/1/1~2011/12/31)

Item

Amount

Net Income

5,166

Changes of NWC

(10,915)

Operating cash outflow

(6,038)

Investment cash inflow

1,192

Financial Debt

6,542

Financing cash outflow

3,494

Cumulative translation adjustments

1,272

Net Cash

248

Beginning cash balance

7,573

Ending cash balance

7,821

 

IRcontacts: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