Taiwan's AU Optronics profit dives 98 percent

Oct 27, 2010

Taiwan's AU Optronics Corp said Wednesday its net profit in the three months to September plummeted 98 percent from the previous quarter due to falling prices.

The firm, a leading flat-screen maker, said net profit in the period was 227 million Taiwan dollars (7.32 million US), compared with 11.25 billion Taiwan dollars in the previous three months.

The figure also represented a 97-percent fall from the same period last year, when the company reported a profit of 7.42 billion Taiwan dollars, it said.

AUO's revenue in the third quarter was down 3.3 percent from the previous quarter at 124 billion Taiwan dollars.

The company attributed the sharp declines to inventory adjustments by its customers and lower-than-expected panel prices.

"Looking into the fourth quarter, AUO will continuously adjust its capacity utilisation rates based on market demands," said company chief financial officer Andy Yang in a statement.

For the first nine months of 2010, the company reported a of 18.74 billion Taiwan dollars on revenue of 364 billion dollars.

Explore further: Starbucks: Computer outage disrupts sales in US, Canada

Related Stories

Taiwan's AU Optronics sees profit up 54.6 percent

Jul 28, 2010

Taiwan's AU Optronics Corp said Wednesday its net profit in the three months to June jumped 54.6 percent over the previous quarter, partly due to strong demand for high-priced items.

Taiwan's HTC says profit down 30 percent

Apr 06, 2009

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

Taiwan Semiconductor profits soar

Jan 28, 2010

Taiwan Semiconductor Manufacturing Co said Thursday net profits in the three months to December more than doubled from a year earlier due to strong demand for computer application chips.

Recommended for you

How smart are the mobile shoppers who use smartphones?

Apr 24, 2015

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

Apr 24, 2015

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.