Taiwan April 26, 2012 ("AUO" or the "Company")
NT$81,102 million US$2,749 million NT$6,449 million US$219 million NT$13,485 million US$457 million NT$13,796 million US$468 million NT$13,604 million US$461 million NT$1.54 US$0.52
1 Q20 12 Result Highlights
AUO’s unaudited consolidated results for the first quarter of 2012 were highlighted as below:
- NT$81,102 million
- NT$13,796 million
- Gross margin was -8%
- Operating margin was -16.6%
- EBITDA(3) margin was 8.2%
In the first quarter of 2012, shipments for AUO’s large-sized panels reached around 27.3 million units, up by 1.8% quarter-over-quarter. Shipments for small and medium-sized panels were around 36.7 million units, down 21.1% quarter-over-quarter.
Due to the seasonal weakness in panel demand, the Company’s revenue in the first quarter declined compared to the fourth quarter of last year. Nonetheless, because of effective cost control by AUO’s management team, the operating margin and EBITDA margin improved sequentially over the previous quarter.
Looking forward to the second quarter, some of AUO’s products that have been in development for a long time, such as the panels with new sizes or the products applying new display technologies, are expected to kick off mass production consecutively. The Company hopes the introduction of these new products could help it establish a base to capture the peak-season demand in the second half of this year, and meanwhile help improve revenues and shipments quarter over quarter.
(1) All financial information was unaudited and was prepared by the Company in accordance with generally accepted accounting principles in Taiwan ("ROC GAAP").
(2) Amounts converted by an exchange rate of NTD29.50:USD1 based on Federal Reserve Bank of New York, USA as of Mar. 31, 2012.
(3) EBITDA=Operating Income +D&A, that is, operating income before depreciation and amortization.
ABOUT AU OPTRONICS
Taiwan Japan South Korea Singapore the Netherlands Slovakia NT$379.7 billion US$ 12.54 billion
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), a global leader of TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management’s expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance of and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission May 3rd, 2011
SOURCE AU Optronics Corp.