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September 25, 2017

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Largan approves NT$28.5 cash dividend payout

TAIPEI, Taiwan -- Largan Precision Co. (大立光) yesterday held a shareholders' meeting approving a cash dividend payout of NT$28.5 for the previous fiscal year while indicating an upbeat outlook on the latter half of this year on account of expected growth in demand for smartphones following the arrival of the 4G mobile broadband network.

In the first quarter of this year the mobile device camera module maker recorded an after-tax net income of NT$3 billion on revenues of NT$6.558 billion, and achieved an earnings-per-share performance of NT$22.36, ranking among the leaders of all listed companies. In addition, the company maintained record high profit margins of 55.61 percent, the highest since 2007. Largan CEO Adam Lin (林恩平) stated that following the stellar new heights recorded in April and May, performance is expected to continue growing in June and July, propelled by an expected surge in demand for mobile devices as consumers upgrade to the latest 4G mobile network.

In May the company reported revenues of NT$3.393 billion, gaining 6 percent month-on-month while improving 72.95 percent year-on-year. In the first five months of this year, the company accumulated revenues of NT$13.437 billion, growing 49.58 percent over the NT$8.983 billion over the same period in the previous year.

The company noted that throughout May, shipments of camera modules with resolutions of 5 megapixels and 8 megapixels each contributed a 30- to 40-percent portion in revenues, while shipments of modules with resolutions greater than 10 megapixels accounted for a 10- to 20-percent portion of overall sales.

Transition toward Higher Specifications Continues

Clients are expected to continue elevating camera hardware specifications, according to the company, noting that the 13-megapixel configuration is rapidly becoming the standard among flagship devices featuring high-resolution shooters, adding that a few manufacturers have been adopting the rarer 16-megapixel and 20-megapixel variants.

Lin noted that key features including large aperture optics and optical image stabilization (OIS) have risen to be among the most sought-after attributes for high-end devices. Most notably, Lin stated that samples of the company's new zooming lens solution will be delivered for assessments by clients before the end of this year. The company, however, stated that widespread adoption of the new solution may be hampered by its large space requirement, which may be unfavored by device designers.

The company remarked that ongoing patent litigation with Samsung and Genius Electronic Optical (玉晶光) in U.S. courts are proceeding as planned, and that the final verdict is expected to be favorable to Largan, and that the dispute may be resolved through licensing fee payments. The company mentioned that its legal battle for Ability Opto-Electronics Technology Co. (先進光) over suspected criminal industrial espionage is a more rare occurrence in the industry.

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