Taiwan's AU Optronics returns to profit in third quarter

Taiwan's Au Optronics Corp on Thursday posted a net profit of 7.4 billion Taiwan dollars (228.5 million US) on increased demand and higher product prices following two consecutive quarterly losses.

The profit, on revenues of 111.2 billion Taiwan dollars, translated into a profit of 0.84 Taiwan dollars per share, said the world's third-largest flat panel maker after Samsung Electronics Co. and LG Philips Co.

"Due to stronger market demand and higher panel prices, our operating results improved significantly from the previous quarter," chief financial officer Any Yang said in a statement.

The company suffered a loss of 20.22 billion Taiwan dollars in the first quarter and 6.6 billion Taiwan dollars in the second quarter.

(c) 2009 AFP