Epistar and Formosa net profits for 3Q achieved NT$1.9 billion and NT$446 million, respectively

In 3Q10, Epistar's consolidated revenues reached NT$5.68 billion, up 8.3% sequentially. Gross margin was 40.7%, up from 39% in 2Q. Operating income was NT$1.7 billion with operating margin of 30%. Net profit was NT$1.9 billion up 12% sequentially.

For the first three quarters of 2010, Epistar consolidated revenues totaled NT$15.9 billion, gross margin 39.5%, and operating income NT$4.63 billion with 29% operating margin. Net profits were NT$4.6 billion with an EPS of NT$5.81.

Epistar indicated that the sequential growth in net profits was benefit from improved product mix, decreased production costs, and early-replenished inventory of materials. Thanks to increasing shipments of LED-backlit LCD TVs, Income of TV backlighting products and lighting products reached 25% and 20% respectively.

For Formosa, its revenues for 3Q increased 5.7% sequentially to NT$1.44 billion with gross margin of 46.2%. Its operating income was NT$528 million with an operating margin of 36.8%. Net profit increased slightly to NT$446 million in 3Q from NT$423 million in 2Q, with an EPS of NT$1.25.

Formosa’s revenues for the first three quarters of 2010 were NT$3.53 billion with gross margin of 44.79%. Operating income was NT$1.2 billion with 33.85% operating margin. Net profit reached NT$1.08 billion with an EPS of NT$3.01.

Formosa indicated that shipment share of TV backlighting products dropped in the third quarter, while the share of lighting products increased and helped to maintain the company's gross margin.

Looking into 4Q, Epistar and Formosa believed overall orders would be smaller compared to 3Q due to seasonality.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<

Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.