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Lextar Reports 2Q 2016 Financial Results

Lextar Electronics Corp (“Lextar” or the “Company”) (TAIEX: 3698) reported consolidated revenue for the second quarter of 2016 of NT$ 3.6 billion, a QoQ increase of 6.2%, consolidated gross margin was 8%, and net loss was NT$ 123 million. A basic EPS for 2Q 2016 was NT$ -0.21. Lextar’s Consolidated revenue for the first half of 2016 was NT$ 7 billion, a slight YoY decline of 1.6%. Basic EPS for the first half of 2016 was NT$ -0.24.

2Q 2016 financial result highlights:

  • lextar_tri_r_icon.png Revenues were NT$ 3.6 billion, up by 6.2% QoQ
  • lextar_tri_r_icon.png Net loss was NT$ 123 million
  • lextar_tri_r_icon.png Basic EPS were NT$ -0.21

According to B.Y. Chang, CFO and Vice President of Lextar, the revenue in the second quarter rose by 6.2% from the first quarter despite of the severe price competition in lighting market. Moreover the company has enhanced the cost structure and improved operation efficiency therefore the profit margin in 2Q could maintain at the same level of 1Q. However, the loss in 2Q came from the rigid price pressure in lighting, plus the company investing R&D resources in new business and new technology. Regarding 3Q 2016 outlook, backlighting market is expected to rise, and lighting market is still facing the ASP pressure regardless of the rising market demand. Lextar will take orders cautiously to sustain the profitability, while provide high end product with new technology and solution implemented to sustain its competitiveness.