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Display panel makers report slumping Feb. sales

TAIPEI, Taiwan -- Display panel makers Innolux Co. (群創) and AU Optronics (AUO, 友達) yesterday reported slumping performance over the course of February, reporting revenue declines of 9.1 percent and 10.1 percent respectively.

Both companies attributed the declines in performance over February to the disruptions in business days on account of the Chinese New Year holiday.

Innolux yesterday reported February revenues of NT$24.9 billion, which declined by 9.1 percent month-on-month, and 24.6 percent year-on-year. Display panel shipments over the period reached 8.94 million units, down by 10.8 percent month-on-month. The company shipped 22.94 million units of small- to medium-sized display panels, which saw an 8.2-percent decline from January's figures. While operating losses are expected throughout the first quarter of this year, performance will likely pick up in the second quarter, the company said. The sentiment is shared by institutional investors, who are anticipating sales for the company to return to the NT$90 billion benchmark at the end of the second quarter of this year.

AUO reported February revenues of NT$28.181 billion, which declined by 10.1 percent month-on-month while gaining 1.6 percent on a year-on-year basis. Shipments of medium to small-size display panels declined significantly relative to sales of large-size panels, the company said. The company shipped 9.19 million units of display panels for LCD TVs, desktop and laptop computer displays, down 6 percent month-on-month, while small- to medium-sized display panels reached 8.73 million units, down by 27.8 percent.

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