Downstream LED firms outperform upstream peers in 3Q11

Date:2011-11-01     Source:yangliangyuhanyue  Text Size:

Taiwan-based LED firms have been reporting third quarter revenues. Upstream LED chipmakers such as Formosa Epitaxy and Huga reported third quarter earnings per share (EPS) of negative NT$0.70 and NT$0.84 respectively. However, downstream LED packaging house such as Everlight reported third quarter EPS of NT$0.75. LED lighting maker Edison Opto also reported EPS of NT$0.23. Unity Opto reported net loss of NT$120 million (US$4.01 million) due to loss from investments, the EPS in third quarter was negative NT$0.20.

Everlight reported third quarter revenues which fit the forecasts announced previously. Third quarter revenues were NT$4.048 billion with gross margin at 19.74%. The net profits in third quarter were NT$315 million. The accumulated net profits of the first three quarters in 2011 were NT$1.203 billion with EPS reaching NT$2.87. However, Everlight announced recently to have employees taking no-paid leaves caused a stir in the market due to its profitability.

Edison Opto reported third quarter revenues of NT$568 million with gross margin falling to 14.96%. Net profits were NT$23 million with EPS falling to NT$0.23. The accumulated net profits from the first three quarters of the year were NT$193 million and the accumulated EPS reached NT$1.89. Edison Opto anticipates fourth quarter performance to be slightly better than third quarter.

Unity Opto announced 2011 January-September revenues of NT$4.92 billion with net profits of NT$138 million. EPS has reached NT$0.42. Unity Opto indicated due to the NT$126 million loss from investments, the third quarter EPS has turned to negative NT$0.20. Unity Opto pointed out that capacity utilization will be slightly lower in fourth quarter due to the traditional low season, however, the entire LED industry may see some revival of demand.

Comparing with the downstream peers, upstream LED firms have been performing rather poorly. Except for Epileds with EPS of NT$0.69 and Genesis Photonics with EPS of NT$0.45, firms such as Epistar and Tekcore had third quarter EPS of NT$0.02 and negative NT$1.21, respectively.

2005-2011 All Rights Reserved 京ICP备05069564号-1