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Lite-On Technology has reported first quarter consolidated sales of NT$49.84 billion, attributable to stable market growths from cloud computing, storage and LED/lighting applications. Thanks to better product mix and operational efficiency, gross margin and operating margin were 13.2% and 4.1%, up by 0.7% year-on-year and 0.8% year-on-year, respectively. Operating profits reached NT$2.04 billion, up 19% YoY, while net profit totaled NT$1.71 billion with EPS of NT$0.74, up 4% YoY. Meanwhile, the net cash position reached NT$26.9 billion through aggressive working capital management, coupled with a positive free cash flow generated from operation.
The opto-electronics segment, which accounted for 23% share of total sales, posted a revenue decline of 11% YoY. The LED components and vehicle lighting sectors posted steady growths.
The IT business segment accounted for 47% of total revenue, of which the cloud computing business posted continuous revenue growths year-on-year, driven by delivery growth of server and networking power management systems and high-end server enclosures.
Lite-On’s storage business accounted for 20% of revenue. Thanks to increased demands from cloud computing as well as other storage applications, the segment posted a revenue growth of more than 20% YoY in the first quarter.
Sequential growth in operational performance is expected in the second quarter.