Lite-On Technology announced their fiscal 2013 financial performance today. The company’s fourth quarter 2013 consolidated sales reached NT$59.36 billion (US $1.9 billion), up 12 percent YoY and 4 percent QoQ, hitting a 10-quarter record high. Net profits were NT $2.52 billion, up 9 percent YoY and 4 percent QoQ with EPS of NT $1.09, hitting a quarterly profit high in 2013. This is attributable to the solid growth from Lite-On core products, namely camera modules, LED components and Lighting, high-end server and networking power systems, solid state drives (SSD), automotive electronics and game console application products. The gross margin and operating margin in 4Q13 were 13.3 percent and 4.4 percent respectively. 

Despite decreased demands from the global PC market in 2013, Lite-On’s annual consolidated sales reached NT $213.2 billion and net profits were NT $8.76 billion, up 18 percent YoY with EPS of NT $3.83. The gross margin and operating margin were 14.3 percent and 4.7 percent respectively, of which R&D increased approximately 10 percent YoY, further strengthening Lite-On’s areas of core competence in optoelectronics, as well as its worldwide leading position. Net cash position reached NT $23 billion through aggressive working capital management, coupled with a positive free cash flow generated from operations. 

In 2013, stable growth was achieved in the six major applications/products of Lite-On’s core business ― high-end server and networking power systems for cloud computing application, mobile devices, LED Lighting applications, automotive electronics, Solid State Drives (SSD) and game consoles ― which accounted for over 40 percent of Lite-On’s overall revenue, as well as posting a growth of over 40 percent YoY. Power SBG showed consecutive revenue growth, while Camera Module sales presented a yearly growth of 30 percent, supported by high-mega pixel product expansion and market share gains, hitting another record high; LED components and Lighting revenue also presented a growth of approximately 20 percent YoY, of which LED street light revenue increased over 50 percent YoY driven by increased demand for energy saving solutions in North America and Taiwan; and vehicle LED lighting revenue was up over 20 percent YoY. As for storage devices, thanks to increased demand and ongoing market share gains, Solid State Drive (SSD) and products for game console applications posted impressive yearly growth. 

Lite-On's Board has proposed a 2013 dividend plan offering NT $ 2.76 per share. Of that sum, the cash and stock dividend portions will be NT $2.71 and NT $0.05 per share respectively. The dividend payout ratio and cash yield reached 72 percent and 6.3 percent respectively, maintaining a stable and generous dividend policy. Lite-On Board also approved the acquisition of 100 percent stake of LarView Technologies. This acquisition is expected to result in the further enhancement of production automation of high-mega pixel camera modules, the obtaining of miniature packaging technology, coupled with the R&D team, while accelerating production capacity expansion for high-mega pixel camera modules in order to promptly meet rapid end-market growth and increased customer demands.