HSINCHU,
Fourth Quarter Result Highlights
AUO reported the following unaudited consolidated results for the fourth quarter:
-- Revenue decreased by 42.6% Q-o-Q to NT$59.8 billion -- Net loss of NT$26.6 billion -- Basic LPS of NT$3.12 per common share -- Gross loss of 35% -- Operating loss of 44.3% Full Year Result Highlights AUO reported the following consolidated results for the full year: -- Revenue of NT$423.9 billion, down 11.7% YoY -- Net income of NT$21.6 billion, down 61.7% YoY -- Basic EPS of NT$2.5 per common share (US$0.76 per ADR unit), down 65.4% YoY -- Gross margin of 13.1% -- Operating margin of 7.2%
"Due to continued repercussion caused by the global financial crisis and
sluggish market demands, the shipments of large-sized panels in 4Q2008
resulted in 27% Q-o-Q decrease, with average selling price down by 28%.
Meanwhile, the shipments of small- and medium-sized panels were also down by
23% comparing with previous quarter. Nevertheless, these numbers are in line
with the Company's revised 4Q2008 guidance," said Mr.
"The Company was able to manage its Net Debt to Equity Ratio in a reasonable scale, despite the increase from 19.0% in 3Q to 26.5% in 4Q. In terms of overall result in 2008, the Company was able to post 13.1% consolidated Gross Margin, as well as 7.2% Operating Margin amid the global economic downturn that has impeded all sectors around the world," added Cheng, "In 2009, AUO is to carefully manage its Capital Expenditure and continue to maintain a cautious position in terms of its capacity input in accordance with market demands. Furthermore, the Company is to continue strengthening its Research and Development efforts, as well as seeking innovative methods to improve its manufacturing processes, in a bid to enhance its long-term competitiveness and to ensure its best readiness in coping with future business opportunities when the cycle turns positively."
* Amounts converted by an exchange rate of NTD32.76:USD1 as of December 31, 2008. * All financial information was unaudited and was prepared by the Company in accordance with generally accepted accounting principles in Taiwan ("ROC GAAP")
ABOUT AU OPTRONICS
AU Optronics Corp. (AUO) is the worldwide top 3 manufacturer* of thin film
transistor liquid crystal display panels (TFT-LCD). AUO is able to provide
customers a full range of panel sizes and comprehensive applications, offering
TFT-LCD panels in sizes ranging from 1.5 inches to greater than 65 inches. AUO
generated
* DisplaySearch 3Q2008 WW Large-Area TFT-LCD Shipment Report dated October 29, 2008. This data is used as reference only and AUO does not make any endorsement or representation in connection therewith. 2007 year end revenue converted by an exchange rate of NTD32.43:USD1.
Safe Harbour Notice
AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO), the
worldwide top three manufacturer of large-size TFT-LCD panels, today announced
the above news. Except for statements in respect of historical matters, the
statements contained in this Release are "forward-looking statements" within
the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E
of the U.S. Securities Exchange Act of 1934. These forward-looking statements
were based on our management's expectations, projections and beliefs at the
time regarding matters including, among other things, future revenues and
costs, financial performance, technology changes, capacity, utilization rates,
yields, process and geographical diversification, future expansion plans and
business strategy. Such forward looking statements are subject to a number of
known and unknown risks and uncertainties that can cause actual results to
differ materially from those expressed or implied by such statements,
including risks related to the flat panel display industry, the TFT-LCD market,
acceptance and demand for our products, technological and development risks,
competitive factors, and other risks described in the section entitled "Risk
Factors" in our Form 20-F filed with the United States Securities and Exchange
Commission on
SOURCE AU Optronics Corp.