AU Optronics Corp (ADR)(NYSE:AUO) announced unaudited financial results for the fourth quarter and entire fiscal year 2015 during a recent investor conference. As per the reports, consolidated revenues for the fourth quarter were NT$83.44 billion, 6% lesser than the previous quarter.
Insights of Financial Results
The gross margin for the quarter was 5.4% while the gross profit for the quarter was NT$4.49 billion. AU Optronics suffered an operating loss of NT$1.17 billion during the quarter, taking down the operating margin to -1.4%. Company’s net loss for the 4th quarter was NT$8.18 billion.
When it comes to annual revenues, AU reported unaudited revenues of NT$360.35 billion for the fiscal year 2015. It was 11.7% lesser than what AU had declared in the previous year. Although the market condition wasn’t that favorable, AU managed to earn a profit of NT$4.84 billion and basic earnings per share of NT$0.51.
The shipment of large-sized panel reached to 27.61 million units in 4Q2015, 4.8% higher than the quarter before. Moreover, the shipment of small and medium-sized panels surpassed 33.41 million units in the same quarter, down 31.4% on a Q-o-Q basis. For the entire fiscal year 2015, large-sized panel shipments increased to 105.65 million units, down 9.6% from previous year; however, small and medium-sized panel shipments increased 1.2% YOY to 172.81 million units, which somehow reduced the adverse growth effect.
Talking about company’s financial performance, a spokesperson said that non-operating items contributed to loss more than operating items. One of its subsidiaries AUO spent over NT$6.75 billion on various impairment activities of its plants and pieces of equipment. This charge, along with many others, affected AU’s profitability.
Going forward, it will try to make sure that this favorable position remains intact. Various initiatives will be taken to improve the overall financial position, details of which will be announced from time to time.
