AU Optronics posts Q2 earnings

AU Optronics, maker of TFT-LCD panels, has announced its financial earnings for the second quarter of this year, ending 30th June.

It posted a consolidated revenue of US $3,985 million, an increase of 15.3 percent just from the last quarter. Gross profit had improved significantly from Q1, reaching $630 million, up almost double at 42.4 percent. Operating profit was up 62.6 percent quarter on quarter at $410 million and net income was $348 million, up 54.6 percent over the last quarter.

AU Optronics’ total results so far for the year are consolidated revenues of $7,442 million and net income of $574 million, or $0.63 per common share.

Large sized panels are the products driving growth, shipping 29.62 million units – 8.8 percent up from Q1 and 32.2 percent year-on-year. Total large size panel shipments for the year so far totaled in excess of 56.84 million units shipped. 

Small and medium sized panels weren’t performing badly, but are down 2.7 percent from the last quarter and down 8.9 percent from the same period last year. All in all this year, small and medium sized panel shipments have reached in excess of 112.42 million units.

CFO of AU Optronics Andy Yang said in a statement that the results haven’t been a shock: “Our second quarter results were generally in line with our guidance set in the Investor Conference in April. Thanks to a better product mix, growing adoption rates of LED backlight in high-end panels and nearly full capacity utilisation rates, our gross margin increased.”

Yang also said that beginning last year AU Optronics had been focusing on creating strategic alliances with customers which is helping towards its outlook. AU Optronics expects further growth as it has acquired Toshiba Mobile Display’s G4.5 fab in Singapore which became operational from the first of July.