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Chicony Power reports record-breaking sales and operating profits for the third quarter of 2019

Chicony Power Technology Co., Ltd. (6412.TW) today held its investor conference and announced its consolidated financial results for the third quarter of 2019, with both sales and operating profits hitting all-time highs. Consolidated revenues for the quarter reached NT$9,994 million, up by 11.1% year-over-year. Consolidated gross profit rose to NT$1,776 million, a 28.2% year-over-year increase. Consolidated operating profit grew 42.7% year-over-year to NT$850 million. Net profits attributable to owners of the parent was NT$668 million, up significantly by 107.8% year-over-year, with a basic EPS of NT$1.75, up 105.9% on a year-over-year basis. Net net, the company’s earnings in the third quarter exceeded the earnings for the first two quarters of the year combined.

For the first three quarters of 2019, the company’s accumulated consolidated revenues and net income also hit record highs. Accumulated consolidated revenues reached NT$25,532 million, up by 11.4% year-over-year. Consolidated gross profit and operating profit were NT$4,148 and NT$1,677 million, up by 29.5% and 77.0% year-over-year, respectively. Net profits attributable to owners of the parent was NT$1,332 million, a 76.4% year-over-year increase. The first three quarters Basic EPS increased 75.4% year-over-year to NT$3.49, surpassing the previous full-year EPS of NT$2.72.

In addition, Chicony Power saw another record-breaking month in October 2019 and reported its unaudited consolidated revenue of NT$3,534 million, up by 9.4% year-over-year. Since January, the company’s monthly revenues have hit record highs for the same period for ten consecutive months. On top of that, since July, the company has seen a string of four record-breaking months in a row. For the first ten months, accumulated revenues totaled NT$29,062 million, up by around 11.1% year-over year.

Highlights of 3Q19 Consolidated Income Statement:
(NT$ million) 3Q19 3Q18 YoY %
Net Sales 9,994 8,996 11.1
Gross Profit 1,776 1,386 28.2
Operating Profit 850 596 42.7
Pre-tax income 841 435 93.2
Net Income attributable to parent 668 322 107.8
After Tax EPS (NT$) 1.75 0.85 105.9
Profit margins %      
GPM 17.8 15.4 +2.4ppt
OPM 8.5 6.6 +1.9ppt
NPM 6.7 3.6 +3.1ppt


Highlights of 1~3Q19 Consolidated Income Statement:
(NT$ million) 1~3Q19 1~3Q18 YoY %
Net Sales 25,532 22,927 11.4
Gross Profit 4,148 3,204 29.5
Operating Profit 1,677 948 77.0
Pre-tax income 1,685 947 77.9
Net Income attributable to parent 1,332 755 75.4
After Tax EPS (NT$) 3.49 1.99 52.6
Profit margins %      
GPM 16.2 14.0 +2.3ppt
OPM 6.6 4.1 +2.4ppt
NPM 5.2 3.3 +1.9ppt


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