LITE-ON Technology announced consolidated revenue of NT$41.86 billion for the third quarter of 2021.
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Unedited press release follows:
LITEON Technology Reports 2021 Nine-Month Net Profit of NT$11.38 Billion with EPS of NT$ 4.9, up 42% Y-o-Y, Record Profit Margins and EPS
2021/10/18 — LITEON Technology (2301-tw) today reported third quarter consolidated sales of NT$41.86 billion, up 3% Q-o-Q, supported by delivery growth from opto-electronic and power management applications in cloud computing, electric vehicle, notebook PC and gaming products. The sales hit a quarterly record high in seven consecutive quarters. Thanks to the product mix optimization and operational efficiency improvement, gross profit margin was 19.3%, up 0.3ppt Y-oY, gross profits reached NT$8.08 billion; operating profit margin was 8.4% and operating profit reached NT$3.52 billion. Net profits were NT$3.08 billion with EPS of NT$1.33, up 3% Y-o-Y.
Cumulated sales of first nine months of 2021 reached NT$120.26 billion, up 10% Y-o-Y, excluding transferred SSD and Silitech; gross profit margin and operating profit margin were 19% and 7.8%, up 1.1ppt and 0.6ppt Y-o-Y respectively. Gross profit and operating profit were NT$22.8 billion and NT$9.43 billion, up 10% and 12% Y-o-Y respectively. Net profit totaled NT$11.38 billion with EPS of NT$4.9, up 42% Y-o-Y, hitting a record high of nine-month profit margins and EPS. Meanwhile, thanks to the strong positive free cash flow generated from operation, after the distribution of cash dividend and stock repurchase, net cash reached NT$38.1 billion.
“LITEON endeavors to develop the profitable growth in the long term. The nine-month of 2021 gross profit, operating profit and EPS all posted a record high. Though facing the challenges of material shortage and power curb, LITEON strives to work closely with customers and suppliers, accelerating global footprint expansion and enhancing flexibility in production management. We proactively seek solutions to create mutual benefits in supply chain for resilient operation,” said Mr. Anson Chiu, President of LITEON Technology.
The Opto-electronics business contributed a 21% share of cumulated sales from January through September 2021, with around 20% yearly growth in sales, a result of the growing demand from LED components driven by photocoupler and sensor modules used in industrial automation, surveillance, coupled with the smooth delivery of EV charging products.
Cloud & AIoT business contributed a 27% share of cumulated sales of first nine months of 2021. Thanks to stable demand from high-end datacenter server and networking power management systems for cloud computing, power supplies for AI smart home devices, and high-end sever enclosures, Cloud & AIoT posted a yearly growth of 10%.
Information Technology & Consumer Electronics business accounted for 52% of total revenue, of which, NB and gaming power supplies, laser models of Multi-Function Peripherals, IT keyboards and mice posted consecutive delivery growth.
Looking forward, sequential growth from power management in datacenter, EV charging product as well as high-end opto-electronic applications is expected in the fourth quarter. Regarding ESG achievement, LITEON Technology recently received the 2021 TSAA Sustainability Action Gold Award for unique marine waste solution, echoing SDG 14 “Life Below Water” (Sustainable Development Goals; SDGs) of the United Nations.