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WPG (TSE:3702) Reports Its Record High in Operating Income and Operating Cash Inflow of First Quarter 2016. Net income Grew 11.3% over previous year. EPS was NT$0.94

 2016-05-04

WPG (TSE:3702) Reports Its Record High in Operating Income and Operating Cash Inflow of First Quarter 2016. Net income Grew 11.3% over previous year. EPS was NT$0.94

 

2016/05/04

 

Benefited from growing shipments of mobile phone, communication-related components, automotives, power saving and cloud product, WPG, the largest distributor of semiconductor components in Asia, announced Its first quarter consolidated sales reached NT$121.533 billion, a 12.5% increase year over year. Under effective expense control, operating expenses to sales ratio declined continuously to 2.53%, operating income reached NT$2.095 billion, net income was NT$1.555 billion, represented 24.9% and 11.3% increase over previous quarter’s and previous year’s figures respectively. EPS was NT$0.94 per share.

The profit growth has been delivered by continued growing demand of 4G and 3G smart phone, wireless broadband, and cloud servers. Non-3C segments’ contribution such as automotives, industrial electronics and power saving remained healthy. With increased profit and improving operating efficiency, operating cash inflow of first quarter was NT$13.977 billion, set single quarter record high. Key financial indices: Return on Working Capital (ROWC) and ROE was 9.6% and 13% respectively.

In the first quarter of 2016, driven by the IoT, 89 application solutions were provided in the fields of Smart Home (43), Smart phone (11), Wearable devices (10), Smart City (7), Power (6), Automotive (5), Medical (4), Industrial (3), focusing on applications of smart robot, smart lock, audio amplifier, video doorbell, MCU with built in WiFi, fingerprint verification, tire pressure monitoring, PIR motion sensor, smart plug, temperature & humidity sensor, gesture recognition, RGB sensor, proximity sensor, UV sensor, wireless smoke detector, Sub-1 GHz, 16-cell battery monitor with passive cell balancing, motion sensor for medical application, smart thermometer, heart rate monitor, quadcopter, LoRa Technology.

 

 Table: WPG Holdings Consolidated Management Financials for the year ended March 31, 2016. (In brief)

Units:NT$ million

Income Statement (2016/1/1~2016/03/31)

 

Balance Sheet (2016/03/31)

Item

Amount

 

Item

Amount

Operating revenues

121,533

 

Current Assets

154,384

Cost of Goods Sold

(116,361)

 

Accounts receivables

77,450

Gross Profit

5,172

 

Inventories

55,912

Operating Expenses

(3,076)

 

Other assets

13,530

Operating income

2,095

 

Total Assets

167,914

Non-op Expenses

(193)

 

Current Liabilities

101,612

Profit Before Tax

1,903

 

Current Borrowing

48,241

Tax

(342)

 

Accounts payables

46,242

Minority & Others

(5)

 

LT Liabilities

16,640

Profit After tax

1,555

 

Total Liabilities

119,341

EPS (Note)

0.94

 

Common Stock

16,557

Net book value per share (Note)

28.85

 

Total Equity

48,573

Note:Based on weighted average outstanding shares.

 

Cash flows (2016/1/1~2016/03/31)

Item

Amount

Income before Income Tax

1,903

Change in NWC

10,204

Operating cash inflow /(outflow)

13,977

Investment cash inflow /(outflow)

2

Change in Financial Debt

(12,676)

Financing cash inflow /(outflow)

(12,681)

Cumulative translation adjustments

(1,295)

Net Cash

3

Beginning cash balance

9,447

Ending cash balance

9,450

 

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