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July, 1, 2016

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Largan gross profit margin for Q4 set to see rise: head

Largan, a manufacturer of cellphone camera lenses, is expecting a higher gross profit margin in the fourth quarter, said firm Chairman Lin En-ping yesterday.

Lin made the remarks during the firm's quarterly investors' conference yesterday.

Following the launch of Apple's iPhone 5 and other new smartphone models, third quarter sales for Largan stood at NT$4.511 billion, a rise of 35.18 percent from the previous quarter. This was a historic high. Gross profit margin was 40.7 percent, rising 3.51 percent from the second quarter's 37.18 percent. Operating profit was NT$1.474 billion in the third quarter, rising 59.17 percent from the second. Pre-tax profit was NT$1.412 billion, a rise of 33.96 percent from the second quarter.

Net profit was NT$1.16 billion, translating into earnings per share of NT$8.65.

For the first three quarters, sales totaled NT$11.489 billion and net profit NT$2.708 billion, achieving an earnings per share of NT$20.19.

As for the fourth quarter, Largan chairman Lin gave an upbeat outlook.

"Business from clients has been increasing. In the fourth quarter, we expect sales for each month to be better than the last, and overall sales for this quarter will be higher than the third quarter," he said. "Demands are strong right now, and there is no immediate pressure to lower average sales price. Yield rate has improved as we've been in business for sometime. If nothing major happens, I expect the gross profit margin for the fourth quarter to be higher than the third quarter."

Largan yesterday closed at NT$595, up 0.51 percent.

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