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Chimei Innolux Corporation Announces Unaudited Third Quarter 2012 Net Sales of NT$ 129.6 Billion and Gross Margin of 3.3%

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JHUNAN, Taiwan, Oct. 29, 2012 /PRNewswire-FirstCall/ -- Chimei Innolux Corporation ("CMI") (TAIEX: 3481) today announced its third quarter 2012 results. Combined net sales for the third quarter 2012 amounted to NT$ 129,552 million, a 15.1% increase over the previous quarter's NT$ 112,522 million. Gross profit was NT$ 4,246 million, for a gross margin of 3.3%. Operating loss totaled NT$ 2,214 million with an operating margin of -1.7%. Net loss attributable to the shareholders of the parent company amounted to NT$ 3,721 million. EPS equaled NT$ -0.51.

CMI unaudited 3Q 2012 Income Statement – QoQ Comparison

NT$ million

3Q12


% Revenue

2Q12


% Revenue

QoQ %

Change

Except Per Share Data       



Net Sales

129,552


100.0%

112,522


100.0%

15.1%


Cost of Goods Sold

125,306


96.7%

114,479


101.7%

9.5%

Gross Profit (Loss)

4,246


3.3%

(1,957)


(1.7%)

-


Operating Expenses

6,460


5.0%

5,738


5.1%

12.6%

Operating Income (Loss)

(2,214)


(1.7%)

(7,695)


(6.8%)

-

Net Non-operating Income (Exp.)

(1,655)


(1.3%)

(2,188)


(1.9%)

-

Income (Loss) before Tax

(3,869)


(3.0%)

(9,883)


(8.8%)

-

EBITDA(1)

18,860


14.6%

14,314


12.7%

31.8%

Net Income (Loss)

(3,720)


(2.9%)

(9,567)


(8.5%)

-


Net Income (Loss) -Parent

(3,721)


(2.9%)

(9,565)


(8.5%)

-


Basic EPS (NT$)(2)

(0.51)



(1.35)




Notes:

(1) EBITDA = Operating Income + Depreciation & Amortization

(2) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares

(3) All figures are unaudited, prepared by Chimei Innolux Corporation.

(4) Combined results refer to results from other TFT-LCD related subsidiaries in which Chimei Innolux Corporation has 50% or more ownership, and already eliminates inter-company transactions between Chimei Innolux Corporation and these companies to avoid double-counting.

CMI unaudited 3Q 2012 Balance Sheet

NT$ million

2012.9.30

2012.6.30

2011.9.30

Cash & Short Term Investment

52,672

57,639

58,325

Inventory

50,304

61,104

65,748

Total Assets

599,093

636,783

699,355

Short Term Debt (1)

88,635

118,492

156,344

Long Term Debt (2)

199,316

205,647

187,959

Shareholders' Equity (3)

175,134

173,961

216,878

Net Debt to Shareholders' Equity

134.3%

153.2%

131.9%





Depreciation & Amortization

21,076

22,007

24,675

Capital Expenditure

4,567

3,290

10,199

Notes

(1) Short term debt = (short-term bank loan + commercial papers + current portion of long term loan+ obligations under capital leases)

(2) Long term debt = (long-term bank loan + corporate bonds + preferred shares + obligations under capital leases)

(3) Capital Stock (common): NT$79.13 billion; Book value per common stock: NT$22.13

(4) All figures are unaudited, prepared by Chimei Innolux Corporation.

(5) Combined results refer to results from other TFT-LCD related subsidiaries in which Chimei Innolux Corporation has 50% or more ownership, and already eliminates inter-company transactions between Chimei Innolux Corporation and these companies to avoid double-counting.

Announcement Contact:

Chen-Hui Lin      

Anita Chien

Spokesperson    

Media Contact

Tel: +886-(0)6-505-3760  

Tel: +886-(0)6-505-1888 ext.47153

Cell: +886-(0)968-960-866 

Cell: +886-(0)911-572-225

Email: ir@chimei-innolux.com  

Email: anita.chien@chimei-innolux.com

SOURCE Chimei Innolux Corporation

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