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Lite-On Q2 EPS rises over 40 percent

Lite-On, an LED manufacturer, yesterday reported second quarter earnings per share of NT$0.84, an increase of over 40 percent from the first three months, thanks to rising orders from clients including Samsung and AsusTek.

The company gave the figures during its quarterly investors' conference yesterday.

During the event, the firm reported second quarter consolidated revenue of NT$30.68 billion, a rise of 12 percent from the first quarter. Net profit was NT$1.9 billion, which translated into EPS of NT$0.84, a growth of 11 percent on a year-on-year basis.

Lite-On also reported gross profit margin of 13.4 percent for the April-June period, with gross profit increasing 18 percent from the first quarter, due to what the company said was a more competitive product mix and improvement of supply chain management.

The firm posted an operating profit margin of 6.6 percent, with operating profit increasing 35 percent from the first three months. Both gross and operating profit margins were higher than market expectations and were at their highest in two years.

For the first six months, net profit was NT$3.24 billion, while earnings per share sat at NT$1.43.

Lite-On's core business did especially well on resumption of production at its Thailand LED plant and strong sales of LED illumination modules. Meanwhile, the upbeat earnings were also contributed to by strong demand in the camera, mobile and power management sectors.

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