Innolux Corporation (3481 TT) December 2014 Consolidated Revenues of NT$ 38.2 Billion 2014 Total Revenue NT$ 428.7Billion

Innolux Corporation ("INX") today announced its December 2014 consolidated revenues. INX reported unaudited consolidated revenues of NT$ 38.2 billion in December 2014, a decrease of 0.6% M-o-M and an increase of 18% Y-o-Y. During December 2014, INX shipped approximately 11.3 million units of large-sized products, a decrease of 8.9% M-o-M. Shipments for small-and-medium-sized products were 25.2 million units, a decrease of 4.3% M-o-M.

In the fourth quarter 2014, INX reported unaudited consolidated revenues of NT$ 115 billion, an increase of 1.6% Q-o-Q and an increase of 18.2% Y-o-Y respectively. The fourth quarter's large-sized shipments were 35.8 million units, a decrease of 3.2% over the 37 million units shipped in the previous quarter. Shipments for small-and-medium-sized were nearly 77.5 million units, a 0.6% decrease over the 78 million units shipped in the previous quarter.

Due to the increase in TV panel size and the focus on smart phone panel strategy, YoY shipment decreased while total revenue slightly increased. For the full year 2014, INX reported consolidated revenues of NT$ 428.7 billion, an 1.4% increase over NT$ 422.7 billion in 2013.Shipments of large-sized units reached 141.4 million, an 3% increase over the 137.2 million units shipped in 2013; and 320.2 million for small-and-medium-sized units, a 25% decrease over the 426.9 million units shipped in 2013(note 3).

(Units: NTD million, Thousand units)

December 2014 November 2014 M-o-M Growth
Net Sales 38,209 38,456 -0.6%
Large-sized Shipment 11,307 12,409 -8.9%
Small/Medium-sized Shipment 25,201 26,341 -4.3%
4Q 2014 3Q 2014 Q-o-Q Growth
Net Sales 114,947 113,092 +1.6%
Large-sized Shipment 35,812 36,980 -3.2%
Small/Medium-sized Shipment 77,484 77,954 -0.6%
2014 2013 Y-o-Y Growth
Net Sales 428,662 422,729 +1.4%
Large-sized Shipment 141,404 137,231 +3.0%
Small/Medium-sized Shipment 320,219 426,894 (note 3)-25.0%


Notes:
  1. 1. All revenue and shipment figures are unaudited, prepared by Innolux Corporation.
  2. 2. Innolux Corporation consolidated revenue includes revenues from other TFT-LCD related subsidiaries in which Innolux Corporation has 50% or more ownership. Inter-company transactions between Innolux Corporation and these companies have been already deducted to avoid double-counting.
  3. 3. The product mix of the small-and-medium-sized panel business switched from feature phone to high-priced smart phone segment. Compared with the shipments in 2013, there was a decline of shipment in 2014 but the total revenue slightly increased.
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