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WPG (TSE:3702) Reports Its Quarterly Record High in Consolidated Sales of Second Quarter. EPS was NT$0.70 and NT$1.55 for Second Quarter and YTD Respectively.

 2015-08-04

WPG (TSE:3702) Reports Its Quarterly Record High in Consolidated Sales of Second Quarter. EPS was NT$0.70 and NT$1.55 for Second Quarter and YTD Respectively.

 

2015/8/4

 

Benefited from growing shipments of mobile phone, communication-related components, automotives, industrial electronics, and cloud applications, WPG, the largest distributor of semiconductor components in Asia, announced Its second quarter consolidated sales of NT$124.466 billion, set record high. Quarterly Gross margin and operating Margin was 4.32% and 1.67% respectively, in line with the expectations. Income before tax was NT$1.852 billion, represented 5.6% increase over previous quarter’s figures. WPG 2015 shareholders' meeting resolved to increase retained earnings in response to the growth in operations, an additional one-time 10% tax of  NT$0.305 billion is levied on the unappropriated retained earnings. Net Income reached NT$1.161 billion and EPS was NT$0.70 per share for the second quarter. YTD consolidated sales, net income was NT$232.48 billion and NT$2.558 billion respectively. EPS was NT$1.55 per share.

The profit growth has been delivered by continued growing demand of 4G and 3G mid to high-end and low-end smart phone, tablet, wireless broadband, and cloud servers. Non-3C segments’ contribution such as automotives and industrial electronics remained healthy. Key financial indices: Return on Working Capital (ROWC) and ROE was 9.2% and 10.7% respectively. Average collection periods days decreased to 64 days.

Management guides the total sales of third quarter 2015 will be between NT$128 billion and NT$134 billion, with the gross margin in the range of 4.2%~4.5% and the operating margin between 1.6%~1.8%.

In the second quarter of 2015, 74 application solutions were provided in the fields of Smart phone (19), Wearable devices (12), Power(10), Television(10), Automotive (9), Security (7), Computer (3), Smart Home (3), Industrial (1), focusing on applications of smart audio, proximity sensor, wireless battery charger, photoplethysmography, quick charger, cable driver to support 4K UHD video, 360 degree action camera, smart home with WiFi module, 32bit MCU.

 

 Table: WPG Holdings Consolidated Management Financials for the year ended June 30, 2015. (In brief)

Units:NT$ million

Income Statement (2015/1/1~2015/6/30)

 

Balance Sheet (2015/6/30)

Item

Amount

 

Item

Amount

Operating revenues

232,480

 

Current Assets

153,139

Cost of Goods Sold

(222,291)

 

Accounts receivables

81,549

Gross Profit

10,189

 

Inventories

55,791

Operating Expenses

(6,111)

 

Other assets

13,735

Operating income

4,078

 

Total Assets

166,874

Non-op Expenses

(471)

 

Current Liabilities

110,976

Profit Before Tax

3,607

 

Current Borrowing

53,253

Tax

(1,045)

 

Accounts payables

46,877

Minority & Others

(3)

 

LT Liabilities

12,663

Profit After tax

2,558

 

Total Liabilities

124,499

EPS (Note)

1.55

 

Common Stock

16,557

Net book value per share (Note)

25.30

 

Total Equity

42,375

Note:Based on weighted average outstanding shares.

 

Cash flows (2015/1/1~2015/6/30)

Item

Amount

Income before Income Tax

3,607

Change in NWC

(1,054)

Operating cash inflow /(outflow)

(432)

Investment cash inflow /(outflow)

127

Change in Financial Debt

(1,275)

Financing cash inflow /(outflow)

(849)

Cumulative translation adjustments

(1,509)

Net Cash

(2,663)

Beginning cash balance

11,185

Ending cash balance

8,522

 

IR contacts:Cliff Yuan/ Zoe Peng

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

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com