Commission File Number
|
001-31335
|
|
|
||
AU Optronics Corp.
|
||
(Translation of registrant’s name into English)
|
||
No. 1 Li-Hsin Road 2
|
||
Hsinchu Science Park
|
||
Hsinchu, Taiwan
|
||
(Address of principal executive offices)
|
Form 20-F X Form 40-F ___
|
Yes ..... No ..X...
|
1.
|
Press release entitled,” AUO Reports 2Q2010 Results”, dated July 28, 2010.
|
2.
|
Investor Conference Materials entitled, “AU Optronics Corp. Second Quarter 2010 Results”, dated July 28, 2010.
|
AU Optronics Corp.
|
||||
Date: July 28, 2010
|
By:
|
/s/ Andy Yang
|
||
Name:
|
Andy Yang
|
|||
Title:
|
Chief Financial Officer
|
Ÿ
|
Revenue of NT$128,586 million, up 15.3% quarter-over-quarter
|
Ÿ
|
Net income of NT$11,246 million
|
Ÿ
|
Basic EPS of NT$1.24 per common share
|
Ÿ
|
Gross margin of 15.8%
|
Ÿ
|
Operating margin of 10.3%
|
Ÿ
|
EBITDA (3) margin of 27.5%
|
For more information, please contact:
|
|
Freda Lee
|
Yawen Hsiao
|
Corporate Communications Division
|
Corporate Communications Division
|
AU Optronics Corp.
|
AU Optronics Corp.
|
Tel: +886-3-5008800 ext 3206
|
+886-3-5008800 ext 3211
|
Fax: +886-3-5772730
|
+886-3-5772730
|
Email: freda.lee@auo.com
|
yawen.hsiao@auo.com
|
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AU Optronics Corp. Second Quarter 2010 Results Investor Conference 2010 Jul 28, 2010 Safe Harbor Notice o The statements included in this presentation that are not historical in nature are "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Exchange Act of 1934. These forward-looking statements, which may include statements regarding AU Optronics' future results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on AU Optronics' current expectations. o Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the TFT-LCD industry; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates. o In addition, any financial information contained herewithin is presented in conformity with accounting principles generally accepted in the Republic of China (�ROC GAAP�). Readers should be cautioned that these accounting principles differ in many material respects from accounting principles generally accepted in the United States of America ("US GAAP"). o Our release of financial forecasts and forward-looking statements at any particular time does not create any duty of disclosure beyond that which is imposed by law, and we expressly disclaim any obligation to publicly update or revise any forecasts or forward-looking statements, whether as a result of new information, future events or otherwise. o Additional information as to these and other factors that may cause actual results to differ materially from AU Optronics' forward-looking statements or some of the major differences between ROC GAAP and US GAAP can be found in AU Optronics' Annual Report on Form 20-F with respect to the year ended December, 2009 filed with the United States Securities and Exchange Commission. |
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Consolidated Income Statement Amount : NT$ Million Except Per Share Data 2Q'10 1Q'10 QoQ % 2Q'09 Net Sales 128,586 100.0% 111,564 100.0% 15.3% 82,486 100.0% Cost of Goods Sold (108,262) (84.2%) (97,294) (87.2%) 11.3% (81,349) (98.6%) Gross Profit 20,324 15.8% 14,270 12.8% 42.4% 1,136 1.4% Operating Expenses (7,110) (5.5%) (6,141) (5.5%) 15.8% (5,603) (6.8%) Operating Income (Loss) 13,215 10.3% 8,129 7.3% 62.6% (4,467) (5.4%) Net Non-operating 0.7%) 0.4%) Income(Expenses) (898) ( (454) ( 97.6% 38 0.0% Income (Loss) before Tax 12,317 9.6% 7,675 6.9% 60.5% (4,429) (5.4%) Net Income (Loss) 11,246 8.7% 7,274 6.5% 54.6% (6,599) (8.0%) Attributable to: 54.3% Equity holders of the 8.3% parent company 10,957 8.5% 7,103 6.4% (6,811) ( ) Minority interest 289 0.2% 172 0.2% 68.1% 213 0.3% Net Income (Loss) 11,246 8.7% 7,274 6.5% 54.6% (6,599) (8.0%) Basic EPS (NT$)(a) 1.24 0.80 54.3% (0.78) Operating Income + D and A 35,354 27.5% 30,842 27.6% 14.6% 17,768 21.5% Unit Shipments (m8.8%) Large Size Panels 29.6 27.2 22.4 Small and Medium Size Panels 55.4 57.0 (2.7%) 60.8 - Unaudited, prepared by AUO on a consolidated basis (a) Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (8,827m shares in 2Q10 and 1Q10, and 8,766m shares in 2Q09) by retroactively adjusting to stock dividend and stock bonus (b) Large size refers to panels that are 10 inches and above Consolidated Balance Sheet Highlights Amount : NT$ Million 2Q'10 1Q'10 QoQ % 2Q'09 Cash and ST Investment 90,264 88,249 2.3% 66,837 Inventory 53,880 48,056 12.1% 32,535 (a) 47,504 53,823 (11.7%) 45,430 Short Term Debt Long Term Debt 130,376 140,357 (7.1%) 133,670 Equity 293,005 282,756 3.6% 274,934 Total Assets 645,560 638,348 1.1% 571,166 - Unaudited, prepared by AUO on a consolidated basis (a) Short term debt refers to all interest bearing debt maturing within one year (b) Calculated by dividing the average inventory into the annualized cost of goods sold during such period, then multiplying by 365 days |
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Consolidated Cash Flow Highlights Amount : NT$ Million 2Q'10 1Q'10 ------------- ------------- From Operating Activities 32,013 12,763 Net Income 11,246 7,274 Depreciation and Amortization 22,139 22,712 Net Change in Working Capital (2,035) (16,399) -------------------------------------- ------------- ------------- From Investing Activities (16,288) (23,107) Capital Expenditure (15,894) (22,792) --------------------------------------- ------------- ------------- From Financing Activities (12,314) 12,903 Net Change in Debt (14,732) 12,166 --------------------------------------- ------------- ------------- (a) 2,015 2,805 Net Change in Cash - Unaudited, prepared by AUO on a consolidated basis (a) In addition to cash generated from operating, investing and financing activities, net change in cash also included effect on currency exchange of foreign subsidiaries Consolidated Revenues by Application http:/100%emas.microsoft.com/office/word/2003/wordml013f ------------------------------------------------------------------ 13% 13% 12% 10% 10% 80% 17% 18% 17% 17% 16% 60% 16% 21% 18% 21% 19% 40% 47% 51% 48% 51% 47% 20% 0% 2% 3% 4% 4% 5% 2Q09 3Q09 4Q09 1Q10 2Q10 Others TV Monitor Notebook CP - Unaudited, prepared by AUO on a consolidated basis |
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Large Panel - ASP by Unit ASP(US$) 300 $243 $238 $242 $247 TV Panel $199 200 100 $68 $68 IT Panel $61 $64 $68 0 2Q09 3Q09 4Q09 1Q10 2Q10 IT-ASP/unit TV-ASP/unit - Unaudited, prepared by AUO on a consolidated basis - Large size refers to panels that are 10 inches and above - Blended ASP in US$ was translated from NT$ based on average exchange rates announced by Directorate General of Customs, ROC Ministry of Finance of each respective quarter Consolidated Shipments and ASP by Area Shipments in square meter (K) ASP.per/square/meter (Km) (US$) 1,000 $899 $855 $847 4,000 $841 $789 800 3,000 600 4,531 2,000 3,649 4,006 3,976 400 3,097 1,000 200 0 0 --------------------------------------------- 2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10 - Unaudited, prepared by AUO on a consolidated basis - ASP per square meter in US$ was translated from NT$ based on average exchange rates announced by Directorate General of Customs, ROC Ministry of Finance of each respective quarter |
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Consolidated Smalld and Medium Panel Shipments and Revenues Unit (mn) Shipments (NT$mn) Revenues 80 $12,000 $10,567 $10,150 $10,000 $9,699 $8,631 60 $7,944 $8,000 40 $6,000 60.8 64.8 60.1 57.0 55.4 $4,000 20 $2,000 0 $0 2Q09 3Q09 4Q09 1Q10 2Q10 2Q09 3Q09 4Q09 1Q10 2Q10 - Unaudited, prepared by AUO on a consolidated basis - Small and Medium size refers to panels that are under 10 inches Capacity by Fab Fab 6/2010 9/2010 (F) Major Products Capacity Capacity L3 (G3.5) 130,000 130,000 Small/Medium ---------------------------------------------------------------------- L3 (G3.5) LTPS 20,000 LTPS 20,000 Small/Medium ---------------------------------------------------------------------- L4 (G4.0) 60,000 60,000 Small/Medium ---------------------------------------------------------------------- L4 (G4.5) - LTPS 45,000 NB ---------------------------------------------------------------------- L5 (G5.0) 310,000 310,000 NB, Monitor ---------------------------------------------------------------------- L6 (G6.0) 240,000 240,000 Monitor, TV, Public Info Display ---------------------------------------------------------------------- L7 (G7.5) 120,000 135,000 Monitor, TV, Public Info Display ---------------------------------------------------------------------- L8 (G8.5) 40,000 40,000 TV, Public Info Display ====================================================================== - Capacity based on monthly glass substrate input ------------------------------------------------------------------------------ |
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www.auo.com ir@auo.com |
AU OPTRONICS CORP.
CONSOLIDATED BALANCE SHEET
June 30, 2010 and 2009
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) )
|
||||||||||||||||||||||||||||
June 30, 2010
|
June 30, 2009
|
YoY
|
||||||||||||||||||||||||||
ASSETS
|
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||||||||
Cash and Cash Equivalents
|
2,797 | 90,264 | 14.0 | 66,280 | 11.6 | 23,984 | 36.2 | |||||||||||||||||||||
Available-for-Sale Financial Assets - Current
|
0 | 0 | 0.0 | 557 | 0.1 | (557 | ) | (100.0 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
2,386 | 76,992 | 11.9 | 47,882 | 8.4 | 29,110 | 60.8 | |||||||||||||||||||||
Other Current Financial Assets
|
57 | 1,854 | 0.3 | 828 | 0.1 | 1,026 | 124.0 | |||||||||||||||||||||
Inventories
|
1,670 | 53,880 | 8.3 | 32,535 | 5.7 | 21,345 | 65.6 | |||||||||||||||||||||
Other Current Assets
|
291 | 9,397 | 1.5 | 4,612 | 0.8 | 4,785 | 103.7 | |||||||||||||||||||||
Total Current Assets
|
7,201 | 232,387 | 36.0 | 152,694 | 26.7 | 79,693 | 52.2 | |||||||||||||||||||||
Long-term Investments
|
460 | 14,832 | 2.3 | 11,959 | 2.1 | 2,872 | 24.0 | |||||||||||||||||||||
Fixed Assets
|
25,188 | 812,829 | 125.9 | 723,948 | 126.7 | 88,880 | 12.3 | |||||||||||||||||||||
Less: Accumulated Depreciation
|
(13,538 | ) | (436,883 | ) | (67.7 | ) | (342,172 | ) | (59.9 | ) | (94,712 | ) | 27.7 | |||||||||||||||
Net Fixed Assets
|
11,650 | 375,946 | 58.2 | 381,777 | 66.8 | (5,831 | ) | (1.5 | ) | |||||||||||||||||||
Other Assets
|
694 | 22,395 | 3.5 | 24,736 | 4.3 | (2,340 | ) | (9.5 | ) | |||||||||||||||||||
Total Assets
|
20,005 | 645,560 | 100.0 | 571,166 | 100.0 | 74,394 | 13.0 |
LIABILITIES
|
||||||||||||||||||||||||||||
Short-term Borrowings
|
34
|
1,098
|
0.2
|
7,946
|
1.4
|
(6,848
|
) |
(86.2
|
) | |||||||||||||||||||
Accounts Payable
|
3,188 | 102,866 | 15.9 | 71,936 | 12.6 | 30,930 | 43.0 | |||||||||||||||||||||
Current Installments of Long-term Borrowings
|
1,438 | 46,406 | 7.2 | 37,485 | 6.6 | 8,922 | 23.8 | |||||||||||||||||||||
Current Financial Liabilities
|
20 | 659 | 0.1 | 174 | 0.0 | 485 | 278.7 | |||||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
1,283 | 41,416 | 6.4 | 17,530 | 3.1 | 23,886 | 136.3 | |||||||||||||||||||||
Dividend Payable
|
7 | 239 | 0.0 | 2,552 | 0.4 | (2,313 | ) | (90.6 | ) | |||||||||||||||||||
Machinery and Equipment Payable
|
570 | 18,387 | 2.8 | 24,244 | 4.2 | (5,858 | ) | (24.2 | ) | |||||||||||||||||||
Total Current Liabilities
|
6,541 | 211,070 | 32.7 | 161,866 | 28.3 | 49,204 | 30.4 | |||||||||||||||||||||
Long-term Borrowings
|
3,820 | 123,263 | 19.1 | 121,479 | 21.3 | 1,784 | 1.5 | |||||||||||||||||||||
Bonds Payable
|
220 | 7,112 | 1.1 | 12,191 | 2.1 | (5,079 | ) | (41.7 | ) | |||||||||||||||||||
Non Current Financial Liabilities
|
16 | 508 | 0.1 | 677 | 0.1 | (169 | ) | (25.0 | ) | |||||||||||||||||||
Other Long-term Liabilities
|
329 | 10,601 | 1.6 | 19 | 0.0 | 10,582 | 55039.9 | |||||||||||||||||||||
Total Long-term Liabilities
|
4,384 | 141,485 | 21.9 | 134,366 | 23.5 | 7,118 | 5.3 | |||||||||||||||||||||
Total Liabilities
|
10,925 | 352,555 | 54.6 | 296,233 | 51.9 | 56,322 | 19.0 |
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||
Common Stock
|
2,735
|
88,270
|
13.7
|
85,057
|
14.9
|
3,213
|
3.8
|
|||||||||||||||||||||
Stock Dividends To Be Distributed
|
0 | 0 | 0.0 | 4,561 | 0.8 | (4,561 | ) | (100.0 | ) | |||||||||||||||||||
Capital Surplus
|
3,592 | 115,923 | 18.0 | 113,668 | 19.9 | 2,255 | 2.0 | |||||||||||||||||||||
Retained Earnings
|
2,284 | 73,689 | 11.4 | 57,747 | 10.1 | 15,943 | 27.6 | |||||||||||||||||||||
Cumulative Translation Adjustments
|
57 | 1,853 | 0.3 | 2,312 | 0.4 | (459 | ) | (19.8 | ) | |||||||||||||||||||
Unrealized Gain on Financial Products
|
12 | 394 | 0.1 | 149 | 0.0 | 245 | 164.0 | |||||||||||||||||||||
Net loss not recognized as pension cost
|
0 | 0 | 0.0 | (40 | ) | 0.0 | 40 | (100.0 | ) | |||||||||||||||||||
Minority Interest
|
399 | 12,876 | 2.0 | 11,480 | 2.0 | 1,396 | 12.2 | |||||||||||||||||||||
Total Shareholders' Equity
|
9,080 | 293,005 | 45.4 | 274,934 | 48.1 | 18,072 | 6.6 | |||||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
20,005 | 645,560 | 100.0 | 571,166 | 100.0 | 74,394 | 13.0 |
AU OPTRONICS CORP.
CONSOLIDATED INCOME STATEMENT |
||||||||||||||||||||||||||||||||||||||||
Year over Year Comparison
|
Sequential Comparison
|
|||||||||||||||||||||||||||||||||||||||
2Q 2010
|
% of
|
2Q 2009
|
YoY
|
2Q 2010
|
% of
|
1Q 2010
|
QoQ
|
|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,985 | 128,586 | 100.0 | 82,486 | 55.9 | 3,985 | 128,586 | 100.0 | 111,564 | 15.3 | ||||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,355 | 108,262 | 84.2 | 81,349 | 33.1 | 3,355 | 108,262 | 84.2 | 97,294 | 11.3 | ||||||||||||||||||||||||||||||
Gross Profit
|
630 | 20,324 | 15.8 | 1,136 | 1,688.8 | 630 | 20,324 | 15.8 | 14,270 | 42.4 |
Operating Expenses
|
||||||||||||||||||||||||||||||||||||||||
SG&A
|
160
|
5,151
|
4.0
|
4,053
|
27.1
|
160
|
5,151
|
4.0
|
4,022
|
28.1
|
||||||||||||||||||||||||||||||
R&D
|
61 | 1,958 | 1.5 | 1,550 | 26.4 | 61 | 1,958 | 1.5 | 2,119 | (7.6 | ) | |||||||||||||||||||||||||||||
Operating Income (Loss)
|
220 | 7,110 | 5.5 | 5,603 | 26.9 | 220 | 7,110 | 5.5 | 6,141 | 15.8 | ||||||||||||||||||||||||||||||
410 | 13,215 | 10.3 | (4,467 | ) |
-
|
410 | 13,215 | 10.3 | 8,129 | 62.6 | ||||||||||||||||||||||||||||||
Net Non-Operating Income (Expenses)
|
(28 | ) | (898 | ) | (0.7 | ) | 38 |
-
|
(28 | ) | (898 | ) | (0.7 | ) | (454 | ) | 97.6 | |||||||||||||||||||||||
Income (Loss) before Income Tax
|
382 | 12,317 | 9.6 | (4,429 | ) |
-
|
382 | 12,317 | 9.6 | 7,675 | 60.5 | |||||||||||||||||||||||||||||
Income Tax Expense
|
(33 | ) | (1,071 | ) | (0.8 | ) | (2,170 | ) | (50.6 | ) | (33 | ) | (1,071 | ) | (0.8 | ) | (401 | ) | 167.3 | |||||||||||||||||||||
Net Income (Loss)
|
348 | 11,246 | 8.7 | (6,599 | ) |
-
|
348 | 11,246 | 8.7 | 7,274 | 54.6 |
Attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Equity Holders of The Parent Company
|
340
|
10,957
|
8.5
|
(6,811
|
) |
-
|
340
|
10,957
|
8.5
|
7,103
|
54.3
|
|||||||||||||||||||||||||||||
Minority Interest
|
9 | 289 | 0.2 | 213 | 35.7 | 9 | 289 | 0.2 | 172 | 68.1 | ||||||||||||||||||||||||||||||
Net Income (Loss)
|
348 | 11,246 | 8.7 | (6,599 | ) |
-
|
348 | 11,246 | 8.7 | 7,274 | 54.6 | |||||||||||||||||||||||||||||
Basic Earnings Per Share
|
0.04 | 1.24 | (0.78 | ) | 0.04 | 1.24 | 0.80 | |||||||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
0.38 | 12.41 | (7.76 | ) | 0.38 | 12.41 | 8.05 | |||||||||||||||||||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
8,827 | 8,766 | 8,827 | 8,827 |
AU OPTRONICS CORP.
CONSOLIDATED STATEMENT OF CASH FLOW |
||||||||||||
1H 2010
|
1H 2009
|
|||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
574 | 18,520 | (26,814 | ) | ||||||||
Depreciation & Amortization
|
1,390 | 44,852 | 43,330 | |||||||||
Investment Loss (Gain) under Equity Method
|
(14 | ) | (464 | ) | 180 | |||||||
Changes in Working Capital
|
(571 | ) | (18,434 | ) | (16,149 | ) | ||||||
Changes in Others
|
9 | 302 | (1,825 | ) | ||||||||
Net Cash Provided (Used) by Operating Activities
|
1,388 | 44,775 | (1,278 | ) | ||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Acquisition of Property, Plant and Equipment
|
(1,199 | ) | (38,686 | ) | (30,568 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
1 | 22 | 207 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(9 | ) | (295 | ) | (3,082 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
8 | 257 | 138 | |||||||||
Decrease (Increase) in Restricted Cash in Banks
|
9 | 276 | (2 | ) | ||||||||
Increase in Deferred Assets and Intangible Assets
|
(29 | ) | (951 | ) | (342 | ) | ||||||
Increase in Other Assets
|
(1 | ) | (18 | ) | (406 | ) | ||||||
Net Cash Used in Investing Activities
|
(1,221 | ) | (39,395 | ) | (34,056 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase in Short-term Borrowings
|
14 | 466 | 3,088 | |||||||||
Increase (Decrease) in Guarantee Deposits
|
1 | 24 | (2 | ) | ||||||||
Increase (Decrease) in Long-term Borrowings and Bonds Payable
|
(94 | ) | (3,032 | ) | 13,237 | |||||||
Change in Minority Interest
|
97 | 3,131 | 1,911 | |||||||||
Net Cash Provided by Financing Activities
|
18 | 589 | 18,235 | |||||||||
Change in Consolidated Entity
|
(25 | ) | (794 | ) | 0 | |||||||
Effect of Exchange Rate Changes on Cash
|
(11 | ) | (356 | ) | (55 | ) | ||||||
Net Increase (Decrease) in Cash and Cash Equivalents
|
149 | 4,821 | (17,155 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Period
|
2,648 | 85,443 | 83,435 | |||||||||
Cash and Cash Equivalents at End of Period
|
2,797 | 90,264 | 66,280 |
AU OPTRONICS CORP.
UNCONSOLIDATED BALANCE SHEET |
||||||||||||||||||||||||||||
June 30, 2010 |
June 30, 2009
|
YoY
|
||||||||||||||||||||||||||
ASSETS
|
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||||||||
Cash and Cash Equivalents
|
1,915 | 61,808 | 10.7 | 45,992 | 8.6 | 15,816 | 34.4 | |||||||||||||||||||||
Available-for-Sale Financial Assets - Current
|
0 | 0 | 0.0 | 557 | 0.1 | (557 | ) | (100.0 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
2,326 | 75,073 | 12.9 | 46,891 | 8.7 | 28,182 | 60.1 | |||||||||||||||||||||
Other Current Financial Assets
|
51 | 1,641 | 0.3 | 509 | 0.1 | 1,132 | 222.4 | |||||||||||||||||||||
Inventories
|
1,374 | 44,329 | 7.6 | 27,855 | 5.2 | 16,473 | 59.1 | |||||||||||||||||||||
Other Current Assets
|
242 | 7,820 | 1.3 | 4,395 | 0.8 | 3,425 | 77.9 | |||||||||||||||||||||
Total Current Assets
|
5,909 | 190,672 | 32.9 | 126,200 | 23.5 | 64,473 | 51.1 | |||||||||||||||||||||
Long-term Investments
|
1,935 | 62,450 | 10.8 | 49,871 | 9.3 | 12,579 | 25.2 | |||||||||||||||||||||
Fixed Assets
|
20,997 | 677,585 | 116.9 | 638,622 | 118.9 | 38,963 | 6.1 | |||||||||||||||||||||
Less: Accumulated Depreciation
|
(11,533 | ) | (372,171 | ) | (64.2 | ) | (300,192 | ) | (55.9 | ) | (71,979 | ) | 24.0 | |||||||||||||||
Net Fixed Assets
|
9,464 | 305,414 | 52.7 | 338,430 | 63.0 | (33,016 | ) | (9.8 | ) | |||||||||||||||||||
Other Assets
|
661 | 21,338 | 3.7 | 22,421 | 4.2 | (1,084 | ) | (4.8 | ) | |||||||||||||||||||
Total Assets
|
17,969 | 579,874 | 100.0 | 536,922 | 100.0 | 42,953 | 8.0 |
LIABILITIES
|
||||||||||||||||||||||||||||
Short-term Borrowing
|
0
|
0
|
0.0
|
6,110
|
1.1
|
(6,110
|
) |
(100.0
|
) | |||||||||||||||||||
Accounts Payable
|
3,176 | 102,505 | 17.7 | 75,625 | 14.1 | 26,880 | 35.5 | |||||||||||||||||||||
Current Installments of Long-term Borrowings
|
1,294 | 41,746 | 7.2 | 33,978 | 6.3 | 7,769 | 22.9 | |||||||||||||||||||||
Current Financial Liabilities
|
13 | 434 | 0.1 | 170 | 0.0 | 265 | 156.0 | |||||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
911 | 29,386 | 5.1 | 14,272 | 2.7 | 15,114 | 105.9 | |||||||||||||||||||||
Dividend Payable
|
0 | 0 | 0.0 | 2,552 | 0.5 | (2,552 | ) | (100.0 | ) | |||||||||||||||||||
Machinery and Equipment Payable
|
466 | 15,042 | 2.6 | 22,669 | 4.2 | (7,627 | ) | (33.6 | ) | |||||||||||||||||||
Total Current Liabilities
|
5,860 | 189,114 | 32.6 | 155,375 | 28.9 | 33,739 | 21.7 | |||||||||||||||||||||
Long-term Borrowings
|
3,196 | 103,144 | 17.8 | 105,226 | 19.6 | (2,083 | ) | (2.0 | ) | |||||||||||||||||||
Bonds Payable
|
217 | 7,000 | 1.2 | 12,191 | 2.3 | (5,191 | ) | (42.6 | ) | |||||||||||||||||||
Non Current Financial Liabilities
|
15 | 486 | 0.1 | 675 | 0.1 | (189 | ) | (28.0 | ) | |||||||||||||||||||
Other Long-term Liabilities
|
0 | 2 | 0.0 | 2 | 0.0 | (0 | ) | (2.1 | ) | |||||||||||||||||||
Total Long-term Liabilities
|
3,428 | 110,631 | 19.1 | 118,094 | 22.0 | (7,462 | ) | (6.3 | ) | |||||||||||||||||||
Total Liabilities
|
9,289 | 299,745 | 51.7 | 273,468 | 50.9 | 26,277 | 9.6 |
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||
Common Stock
|
2,735
|
88,270
|
15.2
|
85,057
|
15.8
|
3,213
|
3.8
|
|||||||||||||||||||||
Stock Dividends To Be Distributed
|
0 | 0 | 0.0 | 4,561 | 0.8 | (4,561 | ) | (100.0 | ) | |||||||||||||||||||
Capital Surplus
|
3,592 | 115,923 | 20.0 | 113,668 | 21.2 | 2,255 | 2.0 | |||||||||||||||||||||
Retained Earnings
|
2,284 | 73,689 | 12.7 | 57,747 | 10.8 | 15,943 | 27.6 | |||||||||||||||||||||
Cumulative Translation Adjustments
|
57 | 1,853 | 0.3 | 2,312 | 0.4 | (459 | ) | (19.8 | ) | |||||||||||||||||||
Unrealized Gain on Financial Products
|
12 | 394 | 0.1 | 149 | 0.0 | 245 | 164.0 | |||||||||||||||||||||
Net loss not recognized as pension cost
|
0 | 0 | 0.0 | (40 | ) | 0.0 | 40 | (100.0 | ) | |||||||||||||||||||
Total Shareholders' Equity
|
8,681 | 280,130 | 48.3 | 263,454 | 49.1 | 16,676 | 6.3 | |||||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
17,969 | 579,874 | 100.0 | 536,922 | 100.0 | 42,953 | 8.0 |
AU OPTRONICS CORP.
UNCONSOLIDATED INCOME STATEMENT
For the Three Months Ended June 30, 2010 and 2009 and March 31, 2010
(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD) except for per share amounts and shares outstanding)
|
||||||||||||||||||||||||||||||||||||||||
Year over Year Comparison
|
Sequential Comparison
|
|||||||||||||||||||||||||||||||||||||||
2Q 2010
|
% of
|
2Q 2009
|
YoY
|
2Q 2010
|
% of
|
1Q 2010
|
QoQ
|
|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,778 | 121,924 | 100.0 | 81,446 | 49.7 | 3,778 | 121,924 | 100.0 | 106,242 | 14.8 | ||||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,248 | 104,829 | 86.0 | 82,699 | 26.8 | 3,248 | 104,829 | 86.0 | 94,754 | 10.6 | ||||||||||||||||||||||||||||||
Gross Profit (Loss)
|
530 | 17,095 | 14.0 | (1,252 | ) |
-
|
530 | 17,095 | 14.0 | 11,488 | 48.8 | |||||||||||||||||||||||||||||
Operating Expenses
|
||||||||||||||||||||||||||||||||||||||||
SG&A
|
111 | 3,590 | 2.9 | 3,155 | 13.8 | 111 | 3,590 | 2.9 | 2,497 | 43.8 | ||||||||||||||||||||||||||||||
R&D
|
56 | 1,798 | 1.5 | 1,518 | 18.4 | 56 | 1,798 | 1.5 | 2,052 | (12.4 | ) | |||||||||||||||||||||||||||||
Operating Income (Loss)
|
167 | 5,387 | 4.4 | 4,674 | 15.3 | 167 | 5,387 | 4.4 | 4,549 | 18.4 | ||||||||||||||||||||||||||||||
363 | 11,708 | 9.6 | (5,926 | ) |
-
|
363 | 11,708 | 9.6 | 6,939 | 68.7 | ||||||||||||||||||||||||||||||
Net Non-Operating Income (Expenses)
|
(10 | ) | (313 | ) | (0.3 | ) | 1,040 |
-
|
(10 | ) | (313 | ) | (0.3 | ) | 247 |
-
|
||||||||||||||||||||||||
Income (Loss) before Income Tax
|
353 | 11,395 | 9.3 | (4,886 | ) |
-
|
353 | 11,395 | 9.3 | 7,187 | 58.6 | |||||||||||||||||||||||||||||
Income Tax Expense
|
(14 | ) | (438 | ) | (0.4 | ) | (1,925 | ) | (77.3 | ) | (14 | ) | (438 | ) | (0.4 | ) | (84 | ) | 421.3 | |||||||||||||||||||||
Net Income (Loss)
|
340 | 10,957 | 9.0 | (6,811 | ) |
-
|
340 | 10,957 | 9.0 | 7,103 | 54.3 | |||||||||||||||||||||||||||||
Basic Earnings Per Share
|
0.04 | 1.24 | (0.78 | ) | 0.04 | 1.24 | 0.80 | |||||||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
0.38 | 12.41 | (7.76 | ) | 0.38 | 12.41 | 8.05 | |||||||||||||||||||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
8,827 | 8,766 | 8,827 | 8,827 |
AU OPTRONICS CORP.
UNCONSOLIDATED STATEMENT OF CASH FLOW |
||||||||||||
1H 2010
|
1H 2009
|
|||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
560 | 18,060 | (27,142 | ) | ||||||||
Depreciation & Amortization
|
1,194 | 38,539 | 37,828 | |||||||||
Investment Gain under Equity Method
|
(43 | ) | (1,394 | ) | (2,712 | ) | ||||||
Changes in Working Capital
|
(550 | ) | (17,759 | ) | (11,861 | ) | ||||||
Changes in Others
|
13 | 404 | (1,604 | ) | ||||||||
Net Cash Provided (Used) by Operating Activities
|
1,173 | 37,850 | (5,491 | ) | ||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Acquisition of Property, Plant and Equipment
|
(833 | ) | (26,886 | ) | (26,953 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
28 | 903 | 110 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(253 | ) | (8,156 | ) | (6,321 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
0 | 0 | 833 | |||||||||
Increase in Restricted Cash in Banks
|
(1 | ) | (30 | ) | 0 | |||||||
Increase in Deferred Assets and Intangible Assets
|
(13 | ) | (421 | ) | (293 | ) | ||||||
Decrease in Other Assets
|
0 | 7 | 90 | |||||||||
Net Cash Used in Investing Activities
|
(1,072 | ) | (34,582 | ) | (32,535 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase in Short-term Borrowings
|
0 | 0 | 2,410 | |||||||||
Increase in Long-term Borrowings and Bonds Payable
|
25 | 802 | 13,758 | |||||||||
Net Cash Provided by Financing Activities
|
25 | 802 | 16,168 | |||||||||
Effect of Exchange Rate Changes on Cash
|
19 | 625 | 123 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents
|
145 | 4,694 | (21,735 | ) | ||||||||
Cash and Cash Equivalents at Beginning of Period
|
1,770 | 57,114 | 67,727 | |||||||||
Cash and Cash Equivalents at End of Period
|
1,915 | 61,808 | 45,992 |