Commission File Number
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001-31335
|
|
.
|
||
AU Optronics Corp.
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||
(Translation of registrant’s name into English)
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||
No. 1 Li-Hsin Road 2
|
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Hsinchu Science Park
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||
Hsinchu, Taiwan
|
||
(Address of principal executive offices)
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Form 20-F X Form 40-F ___
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Yes ..... No ..X...
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1.
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Press release entitled,” AUO Reports 2Q2011 Financial Results”, dated July 27, 2011.
|
2.
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Investor Conference Materials entitled, “AU Optronics Corp. Second Quarter 2011 Results”, dated July 27, 2011.
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AU Optronics Corp.
|
||||
Date: July 27, 2011
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By:
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/s/ Andy Yang
|
||
Name:
|
Andy Yang
|
|||
Title:
|
Chief Financial Officer
|
News Release
|
Ÿ
|
Revenue of NT$98,050 million, up 5.2% quarter-over-quarter
|
Ÿ
|
Net loss of NT$10,766 million
|
Ÿ
|
Basic EPS of -NT$1.22 per common share
|
Ÿ
|
Gross margin of -2.5%
|
Ÿ
|
Operating margin of -9.3%
|
Ÿ
|
EBITDA (3) margin of 13.6%
|
Freda Lee
|
Yawen Hsiao
|
|
Corporate Communications Division
|
Corporate Communications Division
|
|
AU Optronics Corp.
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AU Optronics Corp.
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|
Tel: +886-3-5008800 ext 3206
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+886-3-5008800 ext 3211
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|
Fax: +886-3-5772730
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+886-3-5772730
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|
Email: freda.lee@auo.com
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yawen.hsiao@auo.com
|
Item 2 [AUO GRAPHIC OMITTED] AU Optronics Corp. Second Quarter 2011 Results Investor Conference [GRAPHIC OMITTED] July 27, 2011 AUO Proprietary and Confidential [GRAPHIC OMITTED] Safe Harbor Notice [] 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. [] 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. [] 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"). [] 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. [] 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, 2010 filed with the United States Securities and Exchange Commission. 2 |
[GRAPHIC OMITTED] Consolidated Income Statement Amount : NT$ Million Except Per Share Data ------------------------------------- ----------------------------------------------------- 2Q'11 1Q'11 QoQ % 2Q'10 ------------------ ----------------- ------- ---------- ------- Net Sales 98,050 100.0% 93,230 100.0% 5.2% 128,586 100.0% Cost of Goods Sold (100,531) (102.5%) (99,500) (106.7%) 1.0% (108,262) (84.2%) ========= ======== ======== ======== ======= ========== ======= Gross Profit (Loss) (2,482) (2.5%) (6,270) (6.7%) (60.4%) 20,324 15.8% Operating Expenses (6,638) (6.8%) (7,957) (8.5%) (16.6%) (7,110) (5.5%) ========= ======== ======== ======== ======= ========== ======= Operating Income (Loss) (9,120) (9.3%) (14,227) (15.3%) (35.9%) 13,215 10.3% Net Non-operating Expenses (2,229) (2.3%) (364) (0.4%) 512.8% (898) (0.7%) ========= ======== ======== ======== ======= ========== ======= Income(Loss) before Tax (11,349) (11.6%) (14,591) (15.7%) (22.2%) 12,317 9.6% ========= ======== ======== ======== ======= ========== ======= Net Income (Loss) (10,766) (11.0%) (13,899) (14.9%) (22.5%) 11,246 8.7% ========= ======== ======== ======== ======= ========== ======= Attributable to: Equity holders of the parent company (10,801) (11.0%) (13,978) (15.0%) (22.7%) 10,957 8.5% Minority interest 35 0.0% 79 0.1% (55.6%) 289 0.2% ========= ======== ======== ======== ======= ========== ======= Net Income (Loss) (10,766) (11.0%) (13,899) (14.9%) (22.5%) 11,246 8.7% ========= ======== ======== ======== ======= ========== ======= Basic EPS (NT$)(a) (1.22) (1.58) (22.7%) 1.24 Operating Income + DandA 13,292 13.6% 8,163 8.8% 62.8% 35,354 27.5% Unit Shipments (mn)(b) Large Size Panels 29.6 28.4 4.3% 29.6 Small and Medium Size Panels 45.5 43.5 4.6% 55.4 -- Unaudited, prepared by AUO on a consolidated basis (a) Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (8,827m shares in 2Q'11, in 1Q'11 and in 2Q'10) by retroactively adjusting to stock dividend and stock bonus (b) Large size refers to panels that are 10 inches and above 3 [GRAPHIC OMITTED] Consolidated Balance Sheet Highlights 2Q'11 1Q'11 QoQ % 2Q'10 ------- ------- ------ ------- Cash and ST Investment 87,421 69,563 25.7% 90,264 Inventory 52,611 49,655 6.0% 53,880 Short Term Debt(a) 37,159 38,294 (3.0%) 47,504 Long Term Debt 164,296 148,342 10.8% 130,376 Equity 253,723 267,992 (5.3%) 293,005 Total Assets 619,457 612,373 1.2% 645,560 Amount : NT$ Million Inventory Turnover (Days)(b) 46 43 43 Debt to Equity 79.4% 69.6% 60.7% Net Debt to Equity 44.9% 43.7% 29.9% -- 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 4 |
[GRAPHIC OMITTED] Consolidated Cash Flow Highlights Amount : NT$ Million 2Q'11 1Q'11 QoQ -------- -------- -------- From Operating Activities 13,552 (11,242) 24,795 Net Loss (10,766) (13,899) 3,133 Depreciation and Amortization 22,412 22,389 23 Net Change in Working Capital 5,647 (19,543) 25,190 =============================== ======== ======== ======== From Investing Activities (12,132) (15,350) 3,218 Capital Expenditure (14,959) (13,845) (1,114) =============================== ======== ======== ======== From Financing Activities 16,490 6,970 9,520 Net Change in Debt 15,329 6,604 8,724 =============================== ======== ======== ======== Net Change in Cash(a) 17,859 (19,936) 37,795 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 5 [GRAPHIC OMITTED] Consolidated Revenues by Application [GRAPHIC OMITTED] -- Unaudited, prepared by AUO on a consolidated basis 6 |
[GRAPHIC OMITTED] Consolidated Shipments and ASP by Area [GRAPHIC OMITTED] -- 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 7 [GRAPHIC OMITTED] Consolidated Small and Medium Panel Shipments by Area and Revenues [GRAPHIC OMITTED] -- Unaudited, prepared by AUO on a consolidated basis -- Small and Medium size refers to panels that are under 10 inches 8 |
[GRAPHIC OMITTED] Capacity by Fab 6/2011 9/2011(F) Fab Capacity Capacity Major Products -------------------------------------------------------------------------------- L3 (G3.5) 130,000 130,000 Small/Medium [GRAPHIC =------------------------------------------------------------------- OMITTED] L3 (G3.5) LTPS 20,000 LTPS 20,000 Small/Medium -------------------------------------------------------------------- [GRAPHIC L4 (G4.0) 60,000 60,000 Small/Medium OMITTED] -------------------------------------------------------------------- L4 (G4.5) LTPS 45,000 LTPS 45,000 NB, Small/Medium [GRAPHIC -------------------------------------------------------------------- OMITTED] L5 (G5.0) 310,000 310,000 NB, Monitor -------------------------------------------------------------------- Monitor, TV, Public [GRAPHIC L6 (G6.0) 240,000 240,000 Info Display OMITTED] --------------------------------------------------------------------- Monitor, TV, Public [GRAPHIC L7 (G7.5) 135,000 135,000 Info Display OMITTED] -------------------------------------------------------------------- L8 (G8.5) 60,000 60,000 TV, Public Info Display [GRAPHIC OMITTED] -------------------------------------------------------------------------------- 9 [GRAPHIC OMITTED] [GRAPHIC OMITTED] 10 |
June 30, 2011
|
June 30, 2010
|
YoY
|
||||||||||||||||||||||||||
ASSETS
|
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||||||||
Cash and Cash Equivalents
|
3,037 | 87,421 | 14.1 | 90,264 | 14.0 | (2,843 | ) | (3.1 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
2,038 | 58,684 | 9.5 | 76,992 | 11.9 | (18,309 | ) | (23.8 | ) | |||||||||||||||||||
Other Current Financial Assets
|
53 | 1,529 | 0.2 | 1,422 | 0.2 | 106 | 7.5 | |||||||||||||||||||||
Inventories
|
1,827 | 52,611 | 8.5 | 53,880 | 8.3 | (1,269 | ) | (2.4 | ) | |||||||||||||||||||
Other Current Assets
|
448 | 12,907 | 2.1 | 9,829 | 1.5 | 3,077 | 31.3 | |||||||||||||||||||||
Total Current Assets
|
7,404 | 213,151 | 34.4 | 232,387 | 36.0 | (19,237 | ) | (8.3 | ) | |||||||||||||||||||
Long-term Investments
|
634 | 18,255 | 2.9 | 14,832 | 2.3 | 3,423 | 23.1 | |||||||||||||||||||||
Fixed Assets
|
31,070 | 894,500 | 144.4 | 812,829 | 125.9 | 81,671 | 10.0 | |||||||||||||||||||||
Less: Accumulated Depreciation
|
(18,496 | ) | (532,511 | ) | (86.0 | ) | (436,883 | ) | (67.7 | ) | (95,628 | ) | 21.9 | |||||||||||||||
Net Fixed Assets
|
12,573 | 361,989 | 58.4 | 375,946 | 58.2 | (13,957 | ) | (3.7 | ) | |||||||||||||||||||
Other Assets
|
905 | 26,062 | 4.2 | 22,395 | 3.5 | 3,667 | 16.4 | |||||||||||||||||||||
Total Assets
|
21,516 | 619,457 | 100.0 | 645,560 | 100.0 | (26,104 | ) | (4.0 | ) | |||||||||||||||||||
LIABILITIES
|
||||||||||||||||||||||||||||
Short-term Borrowings
|
40 | 1,140 | 0.2 | 1,098 | 0.2 | 42 | 3.9 | |||||||||||||||||||||
Accounts Payable
|
3,165 | 91,111 | 14.7 | 102,866 | 15.9 | (11,755 | ) | (11.4 | ) | |||||||||||||||||||
Current Installments of Long-term Borrowings
|
1,251 | 36,018 | 5.8 | 46,406 | 7.2 | (10,388 | ) | (22.4 | ) | |||||||||||||||||||
Current Financial Liabilities
|
9 | 245 | 0.0 | 659 | 0.1 | (413 | ) | (62.7 | ) | |||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
1,518 | 43,693 | 7.1 | 41,655 | 6.5 | 2,038 | 4.9 | |||||||||||||||||||||
Machinery and Equipment Payable
|
576 | 16,594 | 2.7 | 18,387 | 2.8 | (1,793 | ) | (9.8 | ) | |||||||||||||||||||
Total Current Liabilities
|
6,558 | 188,801 | 30.5 | 211,070 | 32.7 | (22,269 | ) | (10.6 | ) | |||||||||||||||||||
Long-term Borrowings
|
4,791 | 137,936 | 22.3 | 123,263 | 19.1 | 14,673 | 11.9 | |||||||||||||||||||||
Bonds Payable
|
916 | 26,360 | 4.3 | 7,112 | 1.1 | 19,247 | 270.6 | |||||||||||||||||||||
Non Current Financial Liabilities
|
24 | 689 | 0.1 | 508 | 0.1 | 182 | 35.8 | |||||||||||||||||||||
Other Long-term Liabilities
|
415 | 11,947 | 1.9 | 10,601 | 1.6 | 1,346 | 12.7 | |||||||||||||||||||||
Total Long-term Liabilities
|
6,146 | 176,933 | 28.6 | 141,485 | 21.9 | 35,448 | 25.1 | |||||||||||||||||||||
Total Liabilities
|
12,704 | 365,734 | 59.0 | 352,555 | 54.6 | 13,179 | 3.7 | |||||||||||||||||||||
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||
Common Stock
|
3,066 | 88,270 | 14.2 | 88,270 | 13.7 | 0 | 0.0 | |||||||||||||||||||||
Capital Surplus
|
4,039 | 116,272 | 18.8 | 115,923 | 18.0 | 350 | 0.3 | |||||||||||||||||||||
Retained Earnings
|
1,181 | 34,013 | 5.5 | 73,689 | 11.4 | (39,676 | ) | (53.8 | ) | |||||||||||||||||||
Cumulative Translation Adjustments
|
9 | 262 | 0.0 | 1,853 | 0.3 | (1,591 | ) | (85.8 | ) | |||||||||||||||||||
Unrealized Gain on Financial Products
|
16 | 456 | 0.1 | 394 | 0.1 | 62 | 15.6 | |||||||||||||||||||||
Net loss not recognized as pension cost
|
(0 | ) | (1 | ) | 0.0 | 0 | 0.0 | (1 | ) | |||||||||||||||||||
Minority Interest
|
502 | 14,449 | 2.3 | 12,876 | 2.0 | 1,574 | 12.2 | |||||||||||||||||||||
Total Shareholders' Equity
|
8,813 | 253,723 | 41.0 | 293,005 | 45.4 | (39,283 | ) | (13.4 | ) | |||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
21,516 | 619,457 | 100.0 | 645,560 | 100.0 | (26,104 | ) | (4.0 | ) |
Note:
|
(1) |
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011
|
Year over Year Comparison
|
Sequential Comparison
|
|||||||||||||||||||||||||||||||||||||||
2Q 2011 |
% of
|
2Q 2010 |
YoY
|
2Q 2011 |
% of
|
1Q 2011 |
QoQ
|
|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales |
NTD
|
Chg %
|
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,406 | 98,050 | 100.0 | 128,586 | (23.7 | ) | 3,406 | 98,050 | 100.0 | 93,230 | 5.2 | |||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,492 | 100,531 | 102.5 | 108,262 | (7.1 | ) | 3,492 | 100,531 | 102.5 | 99,500 | 1.0 | |||||||||||||||||||||||||||||
Gross Profit (Loss)
|
(86 | ) | (2,482 | ) | (2.5 | ) | 20,324 | (86 | ) | (2,482 | ) | (2.5 | ) | (6,270 | ) | (60.4 | ) | |||||||||||||||||||||||
Operating Expenses
|
231 | 6,638 | 6.8 | 7,110 | (6.6 | ) | 231 | 6,638 | 6.8 | 7,957 | (16.6 | ) | ||||||||||||||||||||||||||||
Operating Income (Loss)
|
(317 | ) | (9,120 | ) | (9.3 | ) | 13,215 | (317 | ) | (9,120 | ) | (9.3 | ) | (14,227 | ) | (35.9 | ) | |||||||||||||||||||||||
Net Non-Operating Expense
|
(77 | ) | (2,229 | ) | (2.3 | ) | (898 | ) | 148.2 | (77 | ) | (2,229 | ) | (2.3 | ) | (364 | ) | 512.8 | ||||||||||||||||||||||
Income (Loss) before Income Tax
|
(394 | ) | (11,349 | ) | (11.6 | ) | 12,317 | (394 | ) | (11,349 | ) | (11.6 | ) | (14,591 | ) | (22.2 | ) | |||||||||||||||||||||||
Income Tax Benefit (Expense)
|
20 | 583 | 0.6 | (1,071 | ) | 20 | 583 | 0.6 | 692 | (15.7 | ) | |||||||||||||||||||||||||||||
Net Income (Loss)
|
(374 | ) | (10,766 | ) | (11.0 | ) | 11,246 | (374 | ) | (10,766 | ) | (11.0 | ) | (13,899 | ) | (22.5 | ) | |||||||||||||||||||||||
Attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Equity Holders of The Parent Company
|
(375 | ) | (10,801 | ) | (11.0 | ) | 10,957 | (375 | ) | (10,801 | ) | (11.0 | ) | (13,978 | ) | (22.7 | ) | |||||||||||||||||||||||
Minority Interest
|
1 | 35 | 0.0 | 289 | (87.9 | ) | 1 | 35 | 0.0 | 79 | (55.6 | ) | ||||||||||||||||||||||||||||
Net Income (Loss)
|
(374 | ) | (10,766 | ) | (11.0 | ) | 11,246 | (374 | ) | (10,766 | ) | (11.0 | ) | (13,899 | ) | (22.5 | ) | |||||||||||||||||||||||
Basic Earnings Per Share
|
(0.04 | ) | (1.22 | ) | 1.24 | (0.04 | ) | (1.22 | ) | (1.58 | ) | |||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
(0.42 | ) | (12.24 | ) | 12.41 | (0.42 | ) | (12.24 | ) | (15.83 | ) | |||||||||||||||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
8,827 | 8,827 | 8,827 | 8,827 |
Note:
|
(1)
|
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011 (3) 1 ADR equals 10 common shares
|
1H 2011 | 1H 2010 | |||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
(857 | ) | (24,664 | ) | 18,520 | |||||||
Depreciation & Amortization
|
1,556 | 44,802 | 44,852 | |||||||||
Investment Gain under Equity Method
|
(10 | ) | (278 | ) | (464 | ) | ||||||
Changes in Working Capital
|
(483 | ) | (13,896 | ) | (18,434 | ) | ||||||
Changes in Others
|
(127 | ) | (3,654 | ) | 302 | |||||||
Net Cash Provided by Operating Activities
|
80 | 2,310 | 44,775 | |||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Proceeds from Disposal of AFS Investments
|
1 | 20 | 6 | |||||||||
Acquisition of Property, Plant and Equipment
|
(1,000 | ) | (28,804 | ) | (38,686 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
1 | 39 | 22 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(57 | ) | (1,652 | ) | (295 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
133 | 3,840 | 252 | |||||||||
Decrease in Restricted Cash in Banks
|
0 | 5 | 276 | |||||||||
Increase in Deferred Assets and Intangible Assets
|
(26 | ) | (759 | ) | (951 | ) | ||||||
Increase in Other Assets
|
(6 | ) | (171 | ) | (18 | ) | ||||||
Net Cash Used in Investing Activities
|
(955 | ) | (27,481 | ) | (39,395 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase (Decrease) in Short-term Borrowings
|
(1 | ) | (43 | ) | 466 | |||||||
Increase in Guarantee Deposits
|
31 | 885 | 24 | |||||||||
Increase (Decrease) in Long-term Borrowings and Bonds Payable
|
763 | 21,976 | (3,032 | ) | ||||||||
Change in Minority Interest
|
22 | 641 | 3,131 | |||||||||
Net Cash Provided by Financing Activities
|
815 | 23,459 | 589 | |||||||||
Change in Consolidated Entity
|
0 | 0 | (794 | ) | ||||||||
Effect of Exchange Rate Changes on Cash
|
(13 | ) | (365 | ) | (356 | ) | ||||||
Net Increase (Decrease) in Cash and Cash Equivalents
|
(72 | ) | (2,077 | ) | 4,821 | |||||||
Cash and Cash Equivalents at Beginning of Period
|
3,109 | 89,498 | 85,443 | |||||||||
Cash and Cash Equivalents at End of Period
|
3,037 | 87,421 | 90,264 |
Note:
|
(1)
|
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011
|
June 30, 2011 |
June 30, 2010
|
YoY
|
||||||||||||||||||||||||||
ASSETS
|
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||||||||
Cash and Cash Equivalents
|
1,699 | 48,911 | 9.1 | 61,808 | 10.7 | (12,898 | ) | (20.9 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
1,915 | 55,132 | 10.3 | 75,073 | 12.9 | (19,942 | ) | (26.6 | ) | |||||||||||||||||||
Other Current Financial Assets
|
45 | 1,303 | 0.2 | 1,324 | 0.2 | (20 | ) | (1.5 | ) | |||||||||||||||||||
Inventories
|
1,429 | 41,153 | 7.7 | 44,329 | 7.6 | (3,176 | ) | (7.2 | ) | |||||||||||||||||||
Other Current Assets
|
374 | 10,760 | 2.0 | 8,138 | 1.4 | 2,622 | 32.2 | |||||||||||||||||||||
Total Current Assets
|
5,462 | 157,259 | 29.4 | 190,672 | 32.9 | (33,414 | ) | (17.5 | ) | |||||||||||||||||||
Long-term Investments
|
2,477 | 71,308 | 13.3 | 62,450 | 10.8 | 8,858 | 14.2 | |||||||||||||||||||||
Fixed Assets
|
25,078 | 722,008 | 135.0 | 677,585 | 116.9 | 44,423 | 6.6 | |||||||||||||||||||||
Less: Accumulated Depreciation
|
(15,231 | ) | (438,507 | ) | (82.0 | ) | (372,171 | ) | (64.2 | ) | (66,336 | ) | 17.8 | |||||||||||||||
Net Fixed Assets
|
9,847 | 283,501 | 53.0 | 305,414 | 52.7 | (21,913 | ) | (7.2 | ) | |||||||||||||||||||
Other Assets
|
784 | 22,573 | 4.2 | 21,338 | 3.7 | 1,235 | 5.8 | |||||||||||||||||||||
Total Assets
|
18,570 | 534,640 | 100.0 | 579,874 | 100.0 | (45,234 | ) | (7.8 | ) | |||||||||||||||||||
LIABILITIES
|
||||||||||||||||||||||||||||
Accounts Payable
|
3,090 | 88,951 | 16.6 | 102,505 | 17.7 | (13,554 | ) | (13.2 | ) | |||||||||||||||||||
Current Installments of Long-term Borrowings
|
1,113 | 32,033 | 6.0 | 41,746 | 7.2 | (9,714 | ) | (23.3 | ) | |||||||||||||||||||
Current Financial Liabilities
|
2 | 49 | 0.0 | 434 | 0.1 | (385 | ) | (88.7 | ) | |||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
1,126 | 32,406 | 6.1 | 29,386 | 5.1 | 3,020 | 10.3 | |||||||||||||||||||||
Machinery and Equipment Payable
|
473 | 13,632 | 2.5 | 15,042 | 2.6 | (1,410 | ) | (9.4 | ) | |||||||||||||||||||
Total Current Liabilities
|
5,803 | 167,071 | 31.2 | 189,114 | 32.6 | (22,043 | ) | (11.7 | ) | |||||||||||||||||||
Long-term Borrowings
|
3,461 | 99,629 | 18.6 | 103,144 | 17.8 | (3,515 | ) | (3.4 | ) | |||||||||||||||||||
Bonds Payable
|
915 | 26,352 | 4.9 | 7,000 | 1.2 | 19,352 | 276.5 | |||||||||||||||||||||
Non Current Financial Liabilities
|
24 | 679 | 0.1 | 486 | 0.1 | 193 | 39.8 | |||||||||||||||||||||
Other Long-term Liabilities
|
57 | 1,637 | 0.3 | 2 | 0.0 | 1,635 | 84026.9 | |||||||||||||||||||||
Total Long-term Liabilities
|
4,456 | 128,297 | 24.0 | 110,631 | 19.1 | 17,665 | 16.0 | |||||||||||||||||||||
Total Liabilities
|
10,259 | 295,367 | 55.2 | 299,745 | 51.7 | (4,378 | ) | (1.5 | ) | |||||||||||||||||||
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||
Common Stock
|
3,066 | 88,270 | 16.5 | 88,270 | 15.2 | 0 | 0.0 | |||||||||||||||||||||
Capital Surplus
|
4,039 | 116,272 | 21.7 | 115,923 | 20.0 | 350 | 0.3 | |||||||||||||||||||||
Retained Earnings
|
1,181 | 34,013 | 6.4 | 73,689 | 12.7 | (39,676 | ) | (53.8 | ) | |||||||||||||||||||
Cumulative Translation Adjustments
|
9 | 262 | 0.0 | 1,853 | 0.3 | (1,591 | ) | (85.8 | ) | |||||||||||||||||||
Unrealized Gain on Financial Products
|
16 | 456 | 0.1 | 394 | 0.1 | 62 | 15.6 | |||||||||||||||||||||
Net loss not recognized as pension cost
|
(0 | ) | (1 | ) | 0.0 | 0 | 0.0 | (1 | ) | |||||||||||||||||||
Total Shareholders' Equity
|
8,311 | 239,273 | 44.8 | 280,130 | 48.3 | (40,857 | ) | (14.6 | ) | |||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
18,570 | 534,640 | 100.0 | 579,874 | 100.0 | (45,234 | ) | (7.8 | ) |
Note:
|
(1)
|
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011
|
Year over Year Comparison
|
Sequential Comparison
|
|||||||||||||||||||||||||||||||||||||||
2Q 2011 |
% of
|
2Q 2010 |
YoY
|
2Q 2011 |
% of
|
1Q 2011 |
QoQ
|
|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,244 | 93,393 | 100.0 | 121,924 | (23.4 | ) | 3,244 | 93,393 | 100.0 | 88,290 | 5.8 | |||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,385 | 97,442 | 104.3 | 104,829 | (7.0 | ) | 3,385 | 97,442 | 104.3 | 95,592 | 1.9 | |||||||||||||||||||||||||||||
Gross Profit (Loss)
|
(141 | ) | (4,049 | ) | (4.3 | ) | 17,095 | (141 | ) | (4,049 | ) | (4.3 | ) | (7,303 | ) | (44.6 | ) | |||||||||||||||||||||||
Operating Expenses
|
194 | 5,593 | 6.0 | 5,387 | 3.8 | 194 | 5,593 | 6.0 | 5,579 | 0.3 | ||||||||||||||||||||||||||||||
Operating Income (Loss)
|
(335 | ) | (9,642 | ) | (10.3 | ) | 11,708 | (335 | ) | (9,642 | ) | (10.3 | ) | (12,881 | ) | (25.1 | ) | |||||||||||||||||||||||
Net Non-Operating Expenses
|
(71 | ) | (2,042 | ) | (2.2 | ) | (313 | ) | 552.9 | (71 | ) | (2,042 | ) | (2.2 | ) | (1,960 | ) | 4.2 | ||||||||||||||||||||||
Income (Loss) before Income Tax
|
(406 | ) | (11,685 | ) | (12.5 | ) | 11,395 | (406 | ) | (11,685 | ) | (12.5 | ) | (14,841 | ) | (21.3 | ) | |||||||||||||||||||||||
Income Tax benefit (Expense)
|
31 | 884 | 0.9 | (438 | ) | 31 | 884 | 0.9 | 864 | 2.4 | ||||||||||||||||||||||||||||||
Net Income (Loss)
|
(375 | ) | (10,801 | ) | (11.6 | ) | 10,957 | (375 | ) | (10,801 | ) | (11.6 | ) | (13,978 | ) | (22.7 | ) | |||||||||||||||||||||||
Basic Earnings Per Share
|
(0.04 | ) | (1.22 | ) | 1.24 | (0.04 | ) | (1.22 | ) | (1.58 | ) | |||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
(0.42 | ) | (12.24 | ) | 12.41 | (0.42 | ) | (12.24 | ) | (15.83 | ) | |||||||||||||||||||||||||||||
Weighted-Average Shares Outstanding ('M)
|
8,827 | 8,827 | 8,827 | 8,827 |
Note: |
(1)
|
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011 (3) 1 ADR equals 10 common shares
|
1H 2011 | 1H 2010 | |||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
(861 | ) | (24,778 | ) | 18,060 | |||||||
Depreciation & Amortization
|
1,312 | 37,763 | 38,539 | |||||||||
Investment Gain (Loss) under Equity Method
|
50 | 1,437 | (1,394 | ) | ||||||||
Changes in Working Capital
|
(467 | ) | (13,441 | ) | (17,759 | ) | ||||||
Changes in Others
|
(77 | ) | (2,230 | ) | 404 | |||||||
Net Cash Provided(Used) by Operating Activities
|
(43 | ) | (1,251 | ) | 37,850 | |||||||
Cash Flow from Investing Activities:
|
||||||||||||
Acquisition of Property, Plant and Equipment
|
(610 | ) | (17,555 | ) | (26,886 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
5 | 153 | 903 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(79 | ) | (2,274 | ) | (8,156 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
77 | 2,209 | 0 | |||||||||
Increase in Restricted Cash in Banks
|
(0 | ) | (1 | ) | (30 | ) | ||||||
Increase in Deferred Assets and Intangible Assets
|
(11 | ) | (321 | ) | (421 | ) | ||||||
Increase(Decrease) in Other Assets
|
(5 | ) | (132 | ) | 7 | |||||||
Net Cash Used in Investing Activities
|
(622 | ) | (17,921 | ) | (34,582 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase in Guarantee Deposits
|
26 | 761 | 0 | |||||||||
Increase in Long-term Borrowings and Bonds Payable
|
533 | 15,357 | 802 | |||||||||
Net Cash Provided by Financing Activities
|
560 | 16,117 | 802 | |||||||||
Effect of Exchange Rate Changes on Cash
|
(17 | ) | (496 | ) | 625 | |||||||
Net Increase (Decrease) in Cash and Cash Equivalents
|
(123 | ) | (3,550 | ) | 4,694 | |||||||
Cash and Cash Equivalents at Beginning of Period
|
1,822 | 52,460 | 57,114 | |||||||||
Cash and Cash Equivalents at End of Period
|
1,699 | 48,911 | 61,808 |
Note:
|
(1)
|
Unaudited, prepared by AUO based on ROC GAAP
|
(2)
|
Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 28.79 per USD as of June 30, 2011
|