FOREPI Faces Financial Challenge in 2014

Taiwanese LED chip manufacturer FOREPI announced their fiscal 2013 financial report. The company reported losses and was hit hard during the second half of 2013 when backlight demands dropped sharply. The company transition to lighting products has been relatively slow, therefore net loss for 2013 was NT$ 1.28 billion (US$ 42.1 million), or NT $2.7 per share, 1.2 times more than the year before. The company is optimistic that benefitting from LED market demands 2014 performance will be better than 2013. The company’s in-house products are hoped to complete adjustments within one to two months. FOREPI hopes to breakeven through the company’s internal and external advantages.

FOREPI consolidated revenue for 2013 reached NT $4.37 billion, a dip of 9.96 percent from NT $4.85 billion in 2012. Gross loss margin expanded to 18.25 percent compared to 16.53 percent in 2012. Operating loss margin reached 34.05 percent to NT $1.48 billion in 2013,an increase of 17.55 percent from 2012. Net losses for 2013 totaled NT $1.28 billion, or NT$ 2.7 per share.

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