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AUO Reports Loss For 3Q19

AU Optronics (AUO) has reported its consolidated revenues for the third quarter of 2019 reached NT$70.05 billion (US$2.3 billion), flat sequentially. It posted net loss of NT$3.99 billion, with a basic EPS of -NT$0.41 for the quarter.

In the third quarter of 2019, large-sized (10-inch and above) panel shipments arrived at about 28.67 million units, up by 5.5% on-quarter, AUO said. Shipments of small- to medium-sized panels in the same quarter were around 35.60 million units, up by 7.8% sequentially.

Looking back to the third quarter, AUO said although the year-end restocking demand was not as strong as expected, its shipments in terms of area still increased from the previous quarter.

However, new production capacity made available to the market continued sending panel pricing falling, especially for commodity products, the maker said, adding as a result, the company reported flat quarterly revenues with widening losses for the third quarter.

AUO said inventory turnover days were 34 days in the third quarter, and net debt to equity ratio was 18.4%. It said both metrics were maintained at a healthy status.

Looking into the fourth quarter, while entering the traditionally low season, the market imbalance is expected to continue, AUO said. During the slow season, the company said it intends to moderately adjust its utilization rate, and speed up development of new models for the coming year.

AUO said it will continue working on value transformation and technological innovation, exploring value-added markets, and expanding profit-generating product lines. Digitimes

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