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WPG (TSE:3702) Reports Its Record High in Consolidated Sales, Operating Profit and Net Income of Third Quarter. EPS was NT$0.98 for Third Quarter.

 2015-11-03

WPG (TSE:3702) Reports Its Record High in Consolidated Sales, Operating Profit and Net Income of Third Quarter. EPS was NT$0.98 for Third Quarter.

 

2015/11/03

 

Benefited from growing shipments of mobile phone, communication-related components, and automotives, WPG, the largest distributor of semiconductor components in Asia, announced Its record high in consolidated sales, operating profit and net income of third quarter. Third quarter consolidated sales reached NT$140.469 billion, over the expectation. Under effective expense control, operating expenses to sales ratio declined continuously to 2.38%, operating income of third quarter reached NT$2.342 billion, represented a 11.7% increase year over year, operating margin was 1.67%, in line with expectations. Net income reached NT$1.615 billion, represented a 39.1% increase year over year, EPS was NT$0.98 per share for the third quarter. YTD consolidated sales and net income was NT$372.935 billion and NT$4.173 billion respectively. EPS was NT$2.52 per share.

The profit growth has been delivered by continued growing demand of 4G and 3G mid to high-end smart phone, 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 9.6% and 14.1% respectively. Average collection periods days decreased to 61 days.

Management guides the total sales of fourth quarter 2015 will be between NT$129 billion and NT$135 billion, with the gross margin in the range of 3.95%~4.1% and the operating margin between 1.4%~1.6%.

In the third quarter of 2015, 44 application solutions were provided in the fields of Smart phone (16), Industrial (12), Lighting (7), Smart Home (5), Wearable devices (2), Automotive (2), focusing on applications of USB Type-C, fingerprint identification on 3G smartphone, infrared remote control, high accuracy level pressure sensor, NFC evaluation board, 3D printing, 1KW Brushless DC motors in electric hand-held devices, online power quality monitoring, high power factor for LED lighting, 3 in 1 dimming, smart lighting, ultraviolet sensors, rearview mirror, smart power switch.

 

 

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

Units:NT$ million

Income Statement (2015/1/1~2015/9/30)

 

Balance Sheet (2015/9/30)

Item

Amount

 

Item

Amount

Operating revenues

372,935

 

Current Assets

175,148

Cost of Goods Sold

(357,064)

 

Accounts receivables

93,450

Gross Profit

15,872

 

Inventories

60,654

Operating Expenses

(9,452)

 

Other assets

13,881

Operating income

6,420

 

Total Assets

189,029

Non-op Expenses

(854)

 

Current Liabilities

127,197

Profit Before Tax

5,566

 

Current Borrowing

62,505

Tax

(1,387)

 

Accounts payables

56,480

Minority & Others

(6)

 

LT Liabilities

13,435

Profit After tax

4,173

 

Total Liabilities

141,607

EPS (Note)

2.52

 

Common Stock

16,557

Net book value per share (Note)

28.30

 

Total Equity

47,422

Note:Based on weighted average outstanding shares.

 

Cash flows (2015/1/1~2015/9/30)

Item

Amount

Income before Income Tax

5,566

Change in NWC

(8,313)

Operating cash inflow /(outflow)

(6,647)

Investment cash inflow /(outflow)

(1,121)

Change in Financial Debt

(1,160)

Financing cash inflow /(outflow)

4,788

Cumulative translation adjustments

1,984  

Net Cash

(995)

Beginning cash balance

11,185

Ending cash balance

10,190

 

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