First-Quarter 2012 Revenues to Be 5% Less Than Fourth-Quarter 2011

Warren Chen, CEO of the Taiwan-based Lite-On Group, has indicated seasonal factors have been causing first-quarter 2012 revenues to be 5% less than fourth-quarter 2011. Nevertheless, performance in the second quarter will be better than in the first quarter. Lite-On said 2011 net profits were NT$7.23 billion (US$245 million) with EPS of NT$3.22. In particular, core businesses such as power supplies and optics have shown steady growth. Lite-On's camera module revenues showed a 15% growth on year due to increasing orders from smartphone and notebook firms. Chen added that the current debt crisis in Europe has yet to be resolved. However, the problems have not been growing either. Hence the economy seems better than in previous months. Chen noted the addition of 3-4 customers from Europe and Asia has been contributing to the steady growth of Lite-On's LED lighting business. In addition, more smartphone and notebook products have been adopting LED environment sensors, therefore, the firm believes demand will grow. Lite-On is preparing to expand capacity for LED environment sensors in third-quarter 2012 and will supply to major customers such as Nokia. Lite-On Mobile, a subsidiary of Lite-On, reported 2011 net profits of EUR1.34 million (US$179 million). Source: www.digitimes.com