Lextar Electronics has reported its financial performance for the second quarter of 2013. Lextar recorded consolidated revenues of NT$3.85 billion (US$128.49 million), up 33.1% over the previous quarter and up 47.3% on year. Lextar's gross margin for the second quarter was 17.4%, a 10.6pp increase on quarter. Additionally, consolidated net profit was NT$301 million while the company's EPS was NT$0.59. Lextar also announced its results for the first half of 2013, which included sales of NT$6.73 billion, a gross margin of 12.9%, net profits at NT$738 million, and an EPS at NT$1.49.
Lextar said that its improved gross margin in the second quarter was mainly attributed to its raised utilization rate of over 80% from 65% in the first quarter of the year. The company's inventory remained steady at 64 days, the company added.
Lextar also said that both backlight and lighting markets showed a recovery in the second quarter. In the backlight market, apart from the May holiday factor in China, sales were also boosted by surging demands from mobile and tablet markets. For the lighting market, sales were fueled by high-end product demand from Japan, steady sales of panel lights in Europe, and increasing demand for COB and high power LED packaging 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 lineups to keep both revenues and gross margins in the company's lighting business, Lextar added.
