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Record High! WPG (TSE:3702) Reported Its Single Quarter Record High in Consolidated Sales, Operating Income and Net Income of Third Quarter. Net Income Grew 13.8% over Previous Year. EPS was NT$1.11 and NT$3.2 for Third Quarter and YTD Respectively

 2017-11-07

Record High! WPG (TSE:3702) Reported Its Single Quarter Record High in Consolidated Sales, Operating Income and Net Income of Third Quarter. Net Income Grew 13.8% over Previous Year. EPS was NT$1.11 and NT$3.2 for Third Quarter and YTD Respectively.

 

2017/11/07

 

Benefited from growing shipments of mobile phone, automotives and cloud product, WPG, the largest distributor of semiconductor components in Asia, announced Its single quarter record high in consolidated sales, operating income and net income. Consolidated sales was NT$146.667 billion, with optimizing product portfolios and efficient expense control, operating expenses to sales ratio declined to 2.33%, operating income reached NT$2.73 billion, represented 16.6% and 6.8% increase over previous quarter and year respectively. Under currency hedging control, net income of third quarter surpassed the NT$2 billion mark reached NT$2.026 billion, represented 8.5% increase year over year, EPS was NT$1.11 per share.

Despite the impact of NT dollar’s recent appreciation, operating income and net income hit record high for the third quarter ended. Ytd consolidated sales totaled NT$394.049 billion, represented 0.9% decrease year over year, while operating income was NT$7.333 billion, represented 4% increase year over year, net income reached NT$5.663 billion, represented 13.8% double-digit growth year over year. EPS was NT$3.2 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, key financial indices: Return on Working Capital (ROWC) and ROE was 11.1% and 16.1% respectively. Inventory turnover days and average collection periods days decreased to 39 days and 61 days respectively.

In the third quarter of 2017, driven by the IoT, 52 application solutions were provided in the fields of Smart phone (13), Smart Home (12), Automotive (10), Industrial (9), Medical (3), Wearable devices (3), Power (1), USB (1), focusing on applications of mobile projector, ESD protection, surge protection device, 3D laser scan, speech recognition, 360° surround view ADAS, portable audio amplifier with automatic reduction control solution class-D, car charger, multi-parameter bio-signal monitor (MPBSM).

 

 Table: WPG Holdings Consolidated Management Financials for the year ended September 30, 2017. (In brief)

Units:NT$million

Income Statement (2017/1/1~2017/9/30)

 

Balance Sheet (2017/9/30)

Item

Amount

 

Item

Amount

Operating revenues

394,049

 

Current Assets

176,188

Cost of Goods Sold

(377,300)

 

Accounts receivables

95,333

Gross Profit

16,750

 

Inventories

61,113

Operating Expenses

(9,417)

 

Other assets

14,491

Operating income

7,333

 

Total Assets

190,680

Non-op Expenses

(399)

 

Current Liabilities

125,869

Profit Before Tax

6,934

 

Current Borrowing

61,179

Tax

(1,222)

 

Accounts payables

57,887

Minority & Others

(48)

 

LT Liabilities

12,319

Profit After tax

5,663

 

Total Liabilities

139,319

EPS (Note1)

3.20

 

Common Stock

18,251

Net book value per share (Note)

27.86

 

Total Equity

51,360

Note1:Based on weighted average outstanding shares.

 

Cash flows (2017/1/1~2017/9/30)

Item

Amount

Income before Income Tax

6,934

Change in NWC

(4,112)

Operating cash inflow /(outflow)

3,745

Investment cash inflow /(outflow)

(741)

Change in Financial Debt

3,864

Cash Dividend

(4,178)

Financing cash inflow /(outflow)

(341)

Cumulative translation adjustments

(4,098)

Net Cash

(1,435)

Beginning cash balance

8,457

Ending cash balance

7,022

 

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