Taiwan July 27, 2011
( " AUO " or the " Company " )
NT$98,050 million US$3,406 million NT$2,482 million US$86 million NT$9,120 million US$317 million NT$10,766 million US$374 million NT$10,801 million US$375 million NT$1.22 US$0.42
2 Q20 1 1 Result Highlights
AUO’s unaudited consolidated results for the second quarter of 2011 were highlighted as below:
- NT$98,050 million
- NT$10,766 million
- Gross margin of -2.5%
- Operating margin of -9.3%
- EBITDA(3) margin of 13.6%
In the second quarter of 2011, shipments for AUO’s large-sized panels exceeded 29.6 million units, up 4.3% quarter-over-quarter, and shipments of small and medium-sized panels reached around 45.5 million units, up 4.6% quarter-over-quarter.
Looking into the third quarter of 2011, with ongoing macroeconomic concerns, AUO will strictly control its inventory level and revise down its annual capital expenditures. Despite the capital expenditure cut, AUO will maintain its investments in advanced technology and higher-value products, in order to achieve higher asset turnover ratios and to enhance the Company’s long-term competitiveness. Meanwhile, AUO will focus on the profitability and continue to optimize its product portfolios, including the development of 3D technologies applying on TV and notebook products and other high value-added products, such as tablet PCs, smartphones, and high-end car displays, aiming that the increasing portion of the high value products would gradually create positive impacts on the Company’s operations.
(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 NTD 28 . 79 :USD1 based on Federal Reserve Bank of New York, USA as of June 3 , 201 1 .
(3) EBITDA=Operating Income +D&A, that is, operating income before depreciation and amortization.
ABOUT AU OPTRONICS
NT$467.2 billion US$16 billion Taiwan Japan Singapore South Korea Europe
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 on May 3rd , 201 1 .
SOURCE AU Optronics Corp.