Unity Opto Loss in 3Q Hope to Turn Around By 4Q

Taiwanese package manufacturer Unity Opto on November 8th released their 3Q financial data. Affected by 3Q weak backlight demands, 3Q consolidated revenue reached NT $1.73 billion (US $58 million), sliding 13.73 percent from 2Q. 3Q profit dropped 65 percent from 2Q NT $108 million to NT $37.5 million in 3Q.

Unity Opto noted 3Q profit was impacted by losses in exchange rates and valuation of financial liability. The company had an exchange rate loss of NT $20 million and valuation of financial liability loss of NT $10 million. Not considering effects from non-business losses, 3Q performance was stable with excellent performance during 1Q13 slack season. Gross profit margin is expected to continue positive developments in 3Q.

With China TV clients receiving the household energy subsidy, Unity hopes inventory restock will start before the Chinese Lunar New Year. In addition, with upcoming traditional yearend peak season for Europe and North American markets, the company also hopes TV backlight demands will rebound. With the additional orders that are estimated to begin in December, Unity Opto yearly revenue growth will increase.

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