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Board of Directors Approves Q3 2008 Financial Results October 22, 2008 The Holtek Board of Directors today approved the Q3 2008 financial results. Accumulated sales from January to September 2008 were NT$2,655 million, showing a 4.9% decrease compared with sales for the same period in 2007. The average gross margin of the period from January to September 2008 was 45.3%, slightly lower than 45.7% for the same period in 2007; the pre-tax earnings amounted to NT$ 548 million, representing a 26.7% decrease YOY, and the accumulated earning after tax amounted to NT$ 553 million, showing a 15.9% decrease YOY. As a result, the earnings per share for the period from January to September 2008 were NT$ 2.49 for pre-tax and NT$ 2.51 for after-tax based on the current outstanding shares. The accumulated earnings per share of NT$ 2.51 is composed of NT$ 0.63 in Q1, NT$ 1.00 in Q2 and NT$ 0.88 in Q3. For the Q3 2008 financial results, starting from January 1 2008, present regulations for employee bonuses and allowances for the Board of Directors and Supervisors, requests that they are now expensed under the Income Statement which consequently resulted in a 65 million decrease for Q3 2008 after-tax earnings and an NTD$ 0.3 decrease for the earnings per share after-tax. The breakdowns of each product line were 41% of the total sales for standard MCU devices, 31% of the total sales for consumer devices, 17% of the total sales for PC peripheral devices, 4% of the total sales for memory devices, 4% of the total sales for communication devices, and 3% of the total sales for other devices. The total MCU sales which includes the sales of standard MCU devices and embedded MCU devices accounted for 65% of the total sales for the period from January to September 2008. The year 2008 can certainly be regarded as a conservative one from a macroeconomic standpoint, mainly because of the sluggish global economy caused by the uncontrolled subprime mortgage turmoil. However, despite these difficulties, Holtek's strong financial structure, its committed customer relationships and its continuous stream of enhanced technology developments, have ensured that to the present date Holtek's operating results have remained consistently promising and resilient to these outside pressures. Among the recent new product releases, in addition to new series of Flash type MCU devices to ensure its long-term competitiveness, are a range of new products which include White LED drivers, Touch Sensor Solutions and Easy Touch development platform, ASSP/ASIC products such as those for Smoke Detectors, Reversing Parking Devices... all highly market oriented products. When the economic turnaround arrives, Holtek will therefore be in a very favourable position to reap the benefits of these future market opportunities. Finally, to continue in its clear objective of creating long-term value, the goal of increased competitiveness remains the firm commitment of the Holtek management operations group.
Spokesperson: Mr. Armstrong Tsai |
