Taiwan, Oct. 22, 2009 (PRNewswire-Asia-FirstCall) -- AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced unaudited results for the third quarter ended September 30, 2009. The Company posted the third-quarter consolidated revenue of NT$111.2 billion (US$3.5 billion), net profit of NT$7.4 billion (US$ 232 million), and net profit attributable to equity holders of the parent company NT$7.3 billion (US$228 million). This represents an EPS of NT$ 0.84 per common share (US$ 0.26 per ADR unit).
For the first nine months of 2009, AUO reported consolidated revenues of NT$244.5 billion (US$7.6 billion), net loss of NT$19.4 billion (US$606 million), and EPS of -NT$2.26 per common share (-US$0.71 per ADR)
Third Quarter Result Highlights
-- Revenue of NT$111.2 billion, up 35% quarter-over-quarter
-- Net profit of NT$7.4 billion (EPS of NT$ 0.84 per common share)
-- Gross margin of 11.7%
-- Operating margin of 6.8%
-- EBITDA (*) margin of 27.9%
In the third quarter of 2009, AUO's shipment of large-sized panels hit a record high of 26.7 million units, up 19.2% quarter-over-quarter. In terms of small- and medium-sized panels, AUO's shipments reached 64.8 million units, up 6.5% quarter-over-quarter. For the first nine months of 2009, AUO large-sized panels totaled 62.3 million units and small- and medium-sized panels grew substantially to 168.6 million units.
"Benefiting from better market demand and higher panel prices, our operating results improved significantly from the previous quarter. Our gross margin and operating margins for the quarter improved substantially to 11.7% and 6.8%, respectively. EBITDA (*) margin for the quarter also rose to 27.9%, while the Inventory Turnover Days stay healthy at 35 days," said Mr. Andy Yang, Chief Financial Officer of AUO.
"We are glad that AUO has added its G8.5 capacity on time, and as a result we could increase our shipment of the large-sized TV panels remarkably. It proves that AUO has made the right investments in the right timing, enabling us to seize the growing market opportunities. This helped us to grow our market shares in China and emerging markets," Andy added.
In terms of the fourth quarter outlook, although the IT panels are likely to see the seasonal slowdown, the demand for TV panels remains quite robust.
