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Lextar Reports 3Q 2016 Financial Results

Lextar Electronics Corp (“Lextar” or the “Company”) (TAIEX: 3698) reported consolidated revenue for the third quarter of 2016 of NT$ 3.5 billion, a slight YoY decline of 1.5% and a QoQ decrease of 3.7%. Consolidated gross margin was 12%, an increase of 4.4 percent point. Net loss was NT$ 32 million. A basic EPS for 3Q 2016 was NT$ -0.06. Lextar’s Consolidated revenue for the first three quarters (January to September) of 2016 was NT$ 10.5 billion, a slight YoY decline of 1.5%.

3Q 2016 financial result highlights:

  • lextar_tri_r_icon.png Revenues were NT$ 3.5 billion, down by 3.7% QoQ
  • lextar_tri_r_icon.png Net loss was NT$ 32 million
  • lextar_tri_r_icon.png Basic EPS were NT$ -0.06

According to B.Y. Chang, CFO and Vice President of Lextar, backlighting market in the third quarter is better than expected, however lighting market has been still suffering from ASP pressure. Lextar has been taking orders cautiously to sustain the profitability, as well as improves produce portfolio to cope with the competition in lighting market, therefore gross margin in 3Q improved 4.4 percent point. Regarding 4Q outlook, although backlighting market will go into traditional low season, Lextar’s backlight business will keep at a reasonable level benefit from its technology barrier in high-end backlighting LED products. In lighting application the market is still facing the ASP pressure regardless of the rising market demand. Lextar will keep migrating its lighting business focus to commercial lighting fixture integrating control functions, and provide high end product with integrated technology and solutions to sustain its competitiveness.