OTC 績優上櫃公司業績發表會

OTC
績優上櫃公司業績發表會
October, 2008
Safe Harbor Statement
Except for facts in respect of historical matters and figures, the
statements in this release are "forward-looking statements“.
Such forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the
actual performance, financial condition or results of operations
of AAT (“the Company”) to be materially different from what
may be implied by such forward-looking statements.
The financial forecasts and forward-looking statements in this
release reflect the current belief of the Company as of the date
of this release and the Company undertakes no obligation to
update these forecasts and forward-looking statements for
events or circumstances that occur subsequent to such date.
2
Company Profile
www.aatech.com.tw
Establishment: March 1999
Capital: NT$398 mn (~US$12.6 mn)
Listing: July 2006, Taiwan OTC
Ticker: 3438.tw
Market Cap: ~NT$2.39bn (~US$74.6mn)
Employee: 106 (as of September, 2008)
Business Nature: Fabless IC design house
Product: Power Management ICs
Headquarters:
2F, No. 17, Industry E. 2nd Road, Science-Based
Industrial Park, Hsinchu 300, Taiwan.
Tel:(886)-3-563-3125
Fax:(886)-3-563-3126
Taipei Branch Office:
10F, No. 205, Sec. 3, Beishin Rd, Shindian City, Taipei County 231, Taiwan
Tel:(886)-2-8913-2268
Fax:(886)-2-8913-2269
3
AAT Income Statement QoQ
NTD Thousand
Jul-Aug 2008(自結數)
Net sales
Q2 2008(Audited)
QoQ%
196,040
100.0%
331,471
100.0%
-40.9%
(115,713)
-59.0%
(199,515)
-60.2%
-42.0%
Gross margin
80,327
41.0%
131,957
39.8%
-39.1%
Total operating
expenses
(32,425)
-16.5%
(58,399)
-17.6%
-44.5%
47,902
24.4%
73,558
22.2%
-34.9%
Non-operating
income
6,651
3.4%
5,776
1.7%
15.1%
Non-operating
expense
16,601
8.5%
(1,031)
-0.3%
EBIT
71,154
36.3%
78,303
23.6%
Income tax
(5,000)
-2.6%
2,024
0.6%
Net earnings
66,154
33.7%
80,327
24.2%
COGS
Operating profit
EPS
1.70
4
2.07
-17.6%
-17.9%
AAT Income Statement YoY
NTD Thousand
2008 Jan-Aug(自結數)
Net sales
2007 Jan-Sep
YoY%
847,442
100.0%
756,402
100.0%
12.0%
(507,357)
-59.9%
(451,133)
-59.6%
12.5%
Gross margin
340,084
40.1%
305,269
40.4%
11.4%
Total operating
expenses
(136,541)
-16.1%
(87,520)
-11.6%
56.0%
203,543
24.0%
217,749
28.8%
-6.5%
Non-operating
income
16,415
1.9%
15,774
2.1%
4.1%
Non-operating
expense
(23,486)
-2.8%
(11,155)
-1.5%
EBIT
196,472
23.2%
222,368
29.4%
6,858
0.8%
(10,008)
-1.3%
203,330
24.0%
212,360
28.1%
COGS
Operating profit
Income tax
Net earnings
EPS(after tax)
EPS(after
tax)5
Weighted Adj.
5.20
5.59
5.32
-4.3%
AAT Balance Sheet QoQ & YoY
NTD Thousand
2008.8.31
2008.6.30
QoQ%
2007.9.30
Cash and
equivalents
789,088
1,031,804
-23.5%
729,534
Inventories
96,427
99,607
-3.2%
104,092
1,337,589
1,512,840
-11.6%
1,214,338
Debts
142,959
142,770
-
-
Total Liabilities
396,586
637,992
-37.8%
181,383
Common Share
398,261
379,570
4.9%
379,570
Shares Bought
Back
135,052
135,052
0.0%
Shareholder's
equity
941,002
874,848
7.6%
33.0%
27.3%
Total Assets
ROE
6
1,032,955
27.9%
Sales Breakdown by Applications QoQ
Jul-Aug 2008
Networking Others
2.0%
2.7%
GPS
1.5%
DSC
15.0%
TFT-LCD Panel
78.8%
7
Q2 2008
Networking
1.5%
GPS
1.2%
Others
2.7%
DSC
11.2%
TFT-LCD Panel
83.4%
Sales Breakdown by Application YoY
Jul-Aug 2008
Networking Others
2.0%
2.7%
GPS
1.5%
DSC
15.0%
TFT-LCD Panel
78.8%
8
Q3 2007
Networking
1.3%
GPS
2.1%
Others
2.7%
DSC
20.1%
TFT-LCD Panel
73.8%
Sales Breakdown by Geographic Areas QoQ
Jul-Aug 2008
China
26.7%
Taiwan
73.3%
9
Q2 2008
China
22.8%
Taiwan
77.2%
Historical Monthly Revenue
Unit: 1,000 NTD
2008
2007
160,000
140,144
140,000
120,000
112,512
105,561 112,258
109,141
98,278
100,000
125,503
116,916
113,652
110,713
104,362
102,135
94,710
91,678
84,805
81,023
71,203
80,000
67,431 67,572
70,608
60,000
40,000
20,000
0
Jan.
10
Feb.
Mar.
Apr.
May
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.
Average Selling Price (ASP)
NT$16
NT$12
NT$8
NT$4
NT$0
Jan
Feb
Mar
Apr
2006ASP
11
May
Jun
2007ASP
Jul
Aug
2008ASP
Sep
Oct
Nov
Dec
Q&A
12