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Major Taiwanese LED package manufacturer Everlight delivered a solid performance in 2Q14, and is likely to set new revenue records in the following quarter as the industry enters conventional peak season, according to a Money DJ report.
The company reported 2Q14 revenue up by 23 percent Quarter-on-Quarter (QoQ), or nearly up 30 percent Year-on-Year to nearly reaching NT $7.7 billion (US $260 million). Earnings per Share (EPS) are up to about NT $2 in the first half of this year. With the arrival of the backlight and lighting peak season, and expanded production capacity, the company’s 3Q14 revenue is likely to set a new historical record and surpass NT $8.0 billion.
Everlight is one of Taiwan’s top LED package manufacturers, and has diversified product services and applications. Backlight revenue share is currently at 20 to 30 percent, while smartphone applications is close to 30 percent, while lighting products including IR and others is only 10 to 20 percent. The company’s consolidated revenue share ranges between 20 to 30 percent. In recent years, the LED industry has undergone several restructures, but Everlight has been able to keep up years of revenue growth through efficient cost control and management.
In response to the rapidly growing LED lighting industry, Everlight acquired German luminaire manufacturer WOFI in 2013, and expanded its lighting business. The company has also strengthened developments in automotive, advertisement and other niche lighting markes. Everlight also expanded production capacity this year, which is expected to make a positive contribution to general performance in second half of 2014.
Everlight’s 1Q14 revenue was about NT $6.25 billion, and gross margin for the quarter was 25.6 percent. Net profit was NT $420 million, resulting in an EPS of NT $1. Compared to the previous quarter, gross margin in 2Q14 and operating income is expected to exceed first quarter because of higher utilization rates. Financial institutes expects the company’s to deliver a stellar performance in 2Q14 as the company benefits from selling Epistar shares. However, the impact from Polysilicon Group’s reduced capital will still drag down 2Q14 EPS to NT $1.
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