Lextar Still in the Red in 2Q16

Summary of Lextar financial results for second quarter of 2016

Consolidated revenue for second quarter of 2016 was up 6.2% to NT $3.6 billion.
The company’s net loss was NT $120 million.

Taiwanese LED manufacturer Lextar posted a net loss of NT $ 120 million (US $ 3.82 million) for second quarter of 2016, despite reporting a revenue increase.

The company’s revenue for second quarter of 2016 inched up 6.2% compared to the previous quarter to reach NT $3.6 million, and its gross margin was 8%.

Lextar's consolidated revenue for first half of 2016 was down 1.6% to NT $6.99 billion.

Despite intense market competition, the company’s revenue rose 6.2% in second quarter of 2016, and Lextar continued to improve operation efficiency and costs, said Lextar’s Chief Financial Officer Bo-yi Chang. However, pressure to lower lighting product prices, new business developments, and product R&D investments led to rising R&D costs that led to losses in second quarter.

Lextar’s outlook for third quarter is the backlight market will rebound, and prices will remain low in the lighting market where product volumes remain high. Lextar will continue to review orders to improve its profits, while actively developing highly advanced technology products, and integrating its optothermal integration services to maintain its market competitiveness.

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