Lextar Electronics Corp. ("Lextar" or the "Company) (TAIEX: 3698) today reported its financial performance for the second quarter of 2013. Lextar recorded consolidated revenue of NT$3.85 billion, up 33.1% over the previous quarter and a great YoY increase of 47.3%. Lextar's gross margin for Q2 was 17.4 %, a QoQ increase of 10.6 percentage points. Consolidated net profit was NT$ 301 million, EPS was NT$ 0.59. The Company also announced its results for the first half of 2013: sales NT$ 6.73 billion, gross margin 12.9%, net profit NT$ 738 million, and EPS NT$ 1.49.
2Q 2013 Result Highlights: Revenue was NT$ 3.85 billion, a QoQ increase of 33.1% Net profit was NT$ 301 million Gross margin was 17.4%, a QoQ increase of 10.6 percentage points Basic EPS was NT$ 0.59
Lextar reported 2Q 2013 gross margin that showed great improvement. This was mainly attributed to the raised utilization rate of over 80% in Q2 from 65% in Q1, thanks to the growing demands in high season, said B.Y. Chang, CFO and Vice President of Lextar. Chang added that days sales of inventory remained steady and sound at 64 days showing the company's well management on asset optimization.
Both backlight and lighting markets showed a recovery in Q2. In backlight market, apart from the holiday factor in May in China, Q2 sales were also boosted by surging demands from mobile and tablet markets. Not only the sales revenue but also the product development achieved a positive xx in this quarter. Lextar's side-view LED package was consigned by first tier Japanese brand to its latest smart phone display, for its high efficiency of 155 lm/W and high brightness to reduce the LED number by 15%, therefore to meet the energy efficiency requirement of mobile devices.
For lighting market, sales were fueled by high-end product demand from Japan, steady sales of panel lights in Europe, and increasing demands for COB and high power LED package in China. Despite of the impact by the price erosion in retrofit lighting segment, Lextar maintained its stable presence in lighting market with value added products including high efficiency tubes (>120 lm/W) as well as luminaire and LED lighting component lineup, to keep both revenue and gross margin in lighting business.
