Pixart Imaging sees 15-20 percent fall in first-quarter sales

“The first quarter is typically a slow season,” said Luo Mei-wei, chief finance officer with Pixart during the firm's investors' conference. “Mouse chips may see sales fall 5 to 6 percent, game console chips 80 percent, and chips from other sectors 15 to 20 percent. Overall, first-quarter sales may fall 15 to 20 percent from the previous three-month period.”

Business however will pick up in the second quarter, as clients refill their inventories, she said.

During yesterday's event, Pixart reported its fourth quarter financial results.

During the October-December quarter, sales totaled NT$1.059 billion, a rise of 1.7 percent from the third quarter. Gross profit margin was 42.3 percent, or a decline of 0.8 percent from the third quarter. Operating profit was NT$180 million, a rise of 33.7 percent from the previous quarter.

Net profit was NT$80.96 million, a decline of 34.7 percent from the third quarter and translating into earnings per share (EPS) of NT$0.65.

For the whole year of 2012, sales totaled NT$3.51 billion, a rise of 1.8 percent from 2011. Gross profit margin was 38.6 percent, a rise of 5.3 percent from 2011. Operating margin was 9.8 percent, or a rise of 1.2 percent from the previous year.

Net profit was NT$247 million, a rise of 5.3 percent and translating into EPS of NT$2.2.

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