Taiwan package manufacturer Everlight released their 3Q financial data on November 13th 2013. Benefitting from street light recognized bids and recognized revenue from German subsidiary, the company’s 3Q revenue reached NT $6.99 billion (US $ 236 million), growth of 17.74 percent from 2Q. Gross profit reached NT $486 million, an increase of 21.23 percent from Q2. Earnings per share was NT$ 1.18 for 3Q13.
Benefitting from continual recognized revenue of street light bids from first half of 2013 in second half of the year, Everlight lighting products revenue share rose to 25 percent of total revenues. Also, the merger and acquisition of German subsidiary WOFI in 2Q has begun to contribute revenue in the second half of the year, filtering into Everlight’s 3Q revenue performance. Although, LED industryexperienced inventory adjustments in 3Q, Everlight still grew 17.74 percent during this quarter, with gross revenue reaching NT 6.99 billion.
Everlight gross profit margin reached NT 486 million, growth from 2Q of 21.23 percent. Stocks price for 3Q of NT$ 1.18 each also experienced growth compared to 2Q stock price at NT$ 0.92 each. Gross profit margin for 3Q dipped from 26.37 percent in the previous quarter. Everlight 3Q consolidated revenue reached NT $17.95 billion with consolidated gross profit margin and operating profit margin were 26.66 percent and 8.66 percent respectively. First three quarter combined gross profit reached NT 1.11 billion, EPS of NT 2.63.
Everlight expects 4Q backlight performance to be similar to that in 3Q. The company’s lighting business due to reduction of recognized earnings is anticipated to slowdown, with street light bids only having around NT $100-200 million left. Revenue for 4Q is estimated to decline by single digits from 3Q.
