Chunghwa Picture posts NT$9.86 bln of after-tax loss in Q2

Aug. 10, 2009 (China Knowledge) - Taiwan-based Chunghwa Picture Tubes Ltd on Thursday announced that it recorded NT$9.86 billion in after-tax loss in the second quarter of this year, with loss per share standing at NT$1.04, compared with NT$11.2 billion it recorded in after-tax loss in the first quarter.

Chunghwa Picture's consolidated revenues were NT$11.89 billion in Q2, up 21.4% quarter on quarter. The firm's gross loss rate was 55% in Q2, while 78% the firm made in Q1.

The Q2 revenue growth is lower than expected, and the firm experienced supply shortage of integrated circuits and glass for liquid crystal displays, said Chunghwa Picture CEO James Wu.

In Q2 2009, Chunghwa Picture's TFT business division realized NT$10.12 billion of consolidated revenues, up 26.5% from a quarter earlier, while that of the CRT business division sank 1.4% quarter-on-quarter to NT$1.77 billion during the period.

For the first six months of this year, Chunghwa Pictures recorded NT$21.05 billion in after-tax loss, with after-tax loss per share standing at NT$2.23.

The business performance in the second half will improve, said Chunghwa Picture President Kay Chiu, adding that the peak season in the third quarter along with the product portfolio adjustment will lead to positive business results in terms of shipment and revenue.