Compal Electronics, Inc. (“Compal”, TAIEX: 2324) today announced 3Q19 consolidated financial results. 3Q19 consolidated revenue was NT$249,923 million, -1% QoQ and -1% YoY respectively, impacted by some customers’ earlier product pull-in in 2Q19 due to tariff concerns. However, helped by the continued production enhancement and solid expenses control, consolidated operating profit was NT$2,420 million, -9% QoQ but +27% YoY. Non-Op gains were NT$87 million, improved from the losses of the previous quarter, while compared to the high base of last year, due to one-time LCFC disposal gains of NT$2,511 million in 3Q18. Therefore, consolidated net profit was NT$2,044 million, and net profit contributed to the parent company was NT$1,800 million, declined YoY but remains +1% QoQ. EPS was NT$0.41 in 3Q19.
1-3Q 2019 consolidated revenue was NT$712,919 million, +4% YoY. Consolidated operating profit was NT$7,501 million, +14% YoY, with op margin 1.1%. Consolidated net profit was NT$7,240 million and net profit attributed to the parent company was NT$4,942 million. EPS was NT$1.13 in 1-3Q 2019.
Compal Electronics, Inc.─ Statement of Comprehensive Income (Consolidated)
| NT$ Million | 3Q 2019 | 2Q 2019 | QoQ | 3Q 2018 | YoY | |||
| Amount | % | Amount | % | % | Amount | % | % | |
| Net Sales | 249,923 | 100.0% | 252,395 | 100.0% | -1% | 253,408 | 100.0% | -1% |
| Gross Margin | 8,063 | 3.2% | 8,667 | 3.4% | -7% | 7,389 | 2.9% | 9% |
| Operating Margin | 2,420 | 1.0% | 2,659 | 1.1% | -9% | 1,906 | 0.8% | 27% |
| Non-Op Items | 87 | -36 | 2,471 | |||||
| Pre-tax Income | 2,507 | 1.0% | 2,623 | 1.0% | -4% | 4,377 | 1.7% | -43% |
| Net Income | 2,044 | 0.8% | 2,032 | 0.8% | 1% | 3,862 | 1.5% | -47% |
| Net Income to Parent | 1,800 | 0.7% | 1,791 | 0.7% | 1% | 3,733 | 1.4% | -52% |
| EPS (NT$) | 0.41 | 0.41 | 0.86 | |||||
| NT$ Million | 1-3Q 2019 | 1-3Q 2018 | YoY | ||
| Amount | % | Amount | % | % | |
| Net Sales | 712,919 | 100.0% | 687,404 | 100.0% | 4% |
| Gross Margin | 24,392 | 3.4% | 21,812 | 3.2% | 12% |
| Operating Margin | 7,501 | 1.1% | 6,585 | 1.0% | 14% |
| Non-Op Items | -261 | 2,644 | |||
| Pre-tax Income | 7,240 | 1.0% | 9,229 | 1.3% | -22% |
| Net Income | 5,736 | 0.8% | 7,734 | 1.1% | -26% |
| Net Income to Parent | 4,942 | 0.7% | 7,219 | 1.0% | -32% |
| EPS (NT$) | 1.13 | 1.66 | |||
Media Contact:
Gary Lu Senior VP and Spokesman Tel: 886-2-8797-8588 E-mail: Investor@compal.com
Jack Wang VP and Deputy Spokesman Tel: 886-2-8797-8588 E-mail: Investor@compal.com