The three largest LED packaging plant in Taiwan this year, EPS analysis

By the end of the inventory, as well as the economic downturn, while the New Year approaching, the buyer, the seller of caution and other factors, China's Taiwan listed LED packaging manufacturers are expected in December this year than last month revenue will continue to fall. However, due to the October general packaging factory are still profitable, November also mostly in the profit and loss balance near, even if December and low, industry insiders estimate, billion light this year earnings per share is still at NT $4, including tax this year, Wang Qi Baihong EPS is also expected in more than 1.5 yuan nt.

Although the LED industry has recently suffered from recession, consumer market frozen impact, however, LED vendors said, LED has wide application range, high priced LED backlight display, LED lighting applications and so on, down to the flashlight, light string, stationery, toys and other low prices of daily necessities, so even if the recession of consumption slow down, attenuation of LED demand is still expected to be compared with other application in IT industry is slight. It is reported that, as of November this year, including billion light, Bai Hong, Hong Qi, and so on, although revenue decline, but at least in terms of profit margins.

Market is expected, billion light in December this year, revenue will decline to 6-7 billion yuan in New Zealand, the fourth quarter combined revenue estimates will be reduced by 15%-20%. But because of high order billion light year 10-11 month sideview application is expected to increase the proportion of orders, billion light in the fourth quarter of this year gross margin is still expected to remain above 25%, plus the industry may also exchange gains and interest in financial asset evaluation, billion light year before the three season earnings per share reached 3.68 yuan NT estimate, billion light this year earnings per share is still at 4 yuan nt.

In November this year by the Baihong mobile phone backlight and small size backlight products shipped to reduce the impact, monthly revenue fell sharply by 25% the previous month. But the company said it was better than expected. Estimated December revenue will be due to inventory down to 2-2.5 billion yuan, making the fourth quarter revenue decreased by about 20% over the previous quarter. However, due to the gross profit margin is still expected to remain at 18%-20%, plus Pak hung the first three quarters of this year earnings per share reached 1.37 yuan NT, corporate estimate, Pak hung in the fourth quarter of this year there should be a single quarter earnings per share 0.2-0.3 yuan NT, the annual earnings per share estimate of about NT $1.7 or so.

Hong Qi in November this year, revenue fell to only 183 million yuan NT, capacity utilization dropped to less than 40%, but the company said that no loss. The main reason is part of the new orders high power shipments, so that the average price of the product has also increased a little. Acer is expected in the fourth quarter of this year, gross margin should be maintained at 18%-20% level, even if the loss in December, the fourth quarter should be able to maintain a profit and loss balance. In the first three quarters of this year, earnings per share after tax earnings estimate of $1.63 NT dollars, Hong Qi after tax earnings per share this year, there are still more than NT $1.5.