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Lite-On Technology has reported July consolidated revenue of NT$19.37 billion ($615.3 million), up by 1% month-on-month and 11% year-on-year, consecutively hitting a monthly record high for nine months. Stable end-market demands pushed Lite-On’s cumulative sales from January to July to reach NT$122.96 billion, up 2% YoY.
The optoelectronics business segment, which contributed a 23% share of Lite-On’s overall revenue, posted revenue growths of 6% on-month and 5% YoY in July. The IT business segment, which accounted for 47% of the company’s total business, achieved a 2% YoY revenue growth, mainly driven by the high-end server and networking power management systems as well as high-end server enclosure market.
The storage business achieved a sales growth of approximately 60% YoY, fueled by the growth in demand from cloud computing and gaming applications.