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FocalTech — Interim / Quarterly Report 2017
May 25, 2017
52342_rns_2017-05-25_33e84ae0-aed0-4a07-ad59-5b3c4dc48381.pdf
Interim / Quarterly Report
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FocalTech 敦泰電子 (Ticker 3545TT) Investor Conference 法人說明會 2017/4/28
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Unit in NT$ Million /單位: 新台幣佰萬元
| 17' Q1 | 16' Q4 | QoQ | 16' Q1 | YoY | |||
|---|---|---|---|---|---|---|---|
| Revenue/營業收入 | 2,161 | 2,694 |
‐20% |
2,309 | ‐6% |
||
| Gross Profit/營業毛利 | 498 | 627 |
‐21% |
432 | 15% |
||
| Gross Margin/營業毛利率 | 23.0% | 23.3% | ↓30 bps | 18.7% | ↑430 bps | ||
| Operating Expense/營業費用 | 482 | 515 | ‐6% | 524 | ‐8% |
||
| Operating Income/營業淨利 | 16 | 112 |
‐86% |
(93) | |||
| Non Operating Income/營業外收入 | (27) | 47 |
(12) | 121% | |||
| Profit before Tax/稅前淨利 | (10) | 158 |
(105) | ‐90% | |||
| Profit after Tax/稅後淨利 | (8) | 145 |
(99) | ‐92% | |||
| EPS(Basic)/每股盈餘(基本) | (0.01) | 0.50 |
(0.34) |
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
2
Unit in NT$ Million /單位: 新台幣佰萬元
| 2017.3.31 | 2016.12.31 | QoQ | 2016.3.31 | YoY | |||
|---|---|---|---|---|---|---|---|
| Cash & Market Securities/現金及其他金融資產 | 4,456 | 5,571 |
‐20% | 7,337 | ‐39% | ||
| Accounts Receivable/應收帳款 | 1,145 | 1,334 |
‐14% | 1,118 | 2% |
||
| Inventory/存貨 | 3,031 | 2,538 |
19% |
2,355 | 29% |
||
| Other Current Assets/其他流動資產 | 146 | 123 |
19% |
117 | 25% |
||
| Other Non Current Asset/其他非流動資產 | 5,352 | 5,391 |
‐1% |
3,797 | 41% |
||
| Total Assets/資產總計 | 14,131 | 14,957 |
‐6% |
14,723 | ‐4% |
||
| Current Liabilities/流動負債 | 2,690 | 3,163 |
‐15% | 3,021 | ‐11% | ||
| Non Current Liabilities/非流動負債 | 339 | 356 |
‐5% |
319 | 7% |
||
| Owner's Equity/股東權益 | 11,102 | 11,438 |
‐3% |
11,384 | ‐2% |
||
| Total Liabilities and Owners' Equity/負債與權益 | 14,131 | 14,957 |
‐6% |
14,723 | ‐4% |
||
| Net Worth per share/每股淨值 | 37.38 | 38.57 |
38.69 | ||||
| AR Days (Annual Basis) | 52 | 48 |
53 | ||||
| Inventory Days (Annual Basis) | 153 | 106 |
119 |
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
3
Revenue in Q1 was NT$ 2,161M, down 20% qoq and 6% yoy. Seasonality, appreciated NT dollars and weaker demands from low‐end segment are the major contributing factors for this result. Even though discrete drivers and touch controllers saw sequential declines, IDC shipment continued to show encouraging growth on a quarterly basis.
106年第1季營收21.6億元，較上季減少20%並較去年同期減少6%，主要是受季節 性、台幣升值與低階需求疲弱影響。這在傳統觸控與顯示驅動產品線方面比較 明顯，但IDC產品出貨仍較前一季有明顯成長。
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Gross margin in Q1 stayed at a similar level around 23% compared to Q416’. However, it was 430 bps higher than the same period last year.
-
Q1毛利率與上季相似，維持在23%區間；對比去年同期則明顯增加4.3百分點。
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We have had 4 consecutive quarters of profitable operation. Comparing to Q1 last year, the operating profit improved by NT$109M. Owing to unfavorable foreign exchange rate, net income of Q1 turned negative with a loss of NT$ 8 M. However, the loss contracted significantly over the last year.
本業連續四個季度獲利，單季與前一年相比有大幅進步。在淨利方面受不利的 匯率因素影響，轉為虧損約8佰萬元。但因本業獲利顯著改善，本季淨利損失與 去年同期相比，也大幅縮小。
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
4
- Several smartphones using FocalTech’s LTPS FHD IDC solutions were announced in Q1. Hauwei’s newest model, Nova Series, is among them.
全球第一季發表的智慧型手機中，數款皆採用敦泰LTPS FHD IDC 方案，其中包 含華為最新Nova系列產品。
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Huawei’s latest flagship model, P10 Plus, adopts FocalTech’s WQHD driver IC solution.
-
華為於第一季發表的旗艦系列產品‐ P10 Plus係採用敦泰WQHD驅動IC方案。
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FocalTech’s FT8006 series, which can further simplify the in‐cell panel production process and cost, has started pilot production in March.
敦泰新世代減光罩FT8006系列產品已於3月進入小批量產。
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FocalTech’s touch solutions either wearable devices or supporting smartphones
-
with AMOLED panels had reached accumulated shipment of >1 million units in Q1.
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敦泰滿足AMOLED面板特性的觸控方案可應用於穿戴式裝置與智慧型手機，已 協助客戶完成佰萬顆以上的出貨實績。
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
5
- After the coating‐type fingerprint sensors entering into MP last year, FocalTech has successfully developed the cover lens‐type sensors, which will start proto‐type production for smartphones in Q2.
繼表面塗層式的指紋辨識產品於去年進入量產之後，敦泰支持玻璃蓋板結構的 指紋感測器即將於第2季度進入試量產。
- FocalTech held a product launch conference in Shenzhen in April and introduced its optical fingerprint sensing technology to its potential customers.
敦泰4月份於深圳舉辦產品發表會，並將最新開發的光學指紋感應技術介紹與 市場了解。
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
6
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Smartphone shipment in 17’Q2 is expected to grow compared to Q1 as handset makers start to build inventory for their new models. However, demand for low‐end be weaker than The uncertainties we in
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products may previous years. brought up last investor conference, such as increasing component price or shortage in Flash memories may still be a concern in the smartphone supply chain.
智慧型手機廠商將於第2季展開新機備貨，因此預期第2季出貨量將較上一季成 長。惟低階產品需求仍可能低於季節性表現。上季法說會提及的不確定性因素， 如零組件短缺及漲價問題，似乎仍持續發酵中。
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After the launch of Xiaomi Mix, Samsung Galaxy S8 and LG G6, high‐end smartphone makers are switching over the display design to 18:9 aspect ratio. This transition is taking place at a record speed. Many old 16:9 designs had been called off, which may temporarily affect the shipment of high‐end IDC product in Q2.
-
繼小米Mix、三星 Galaxy S8 及 LG G6的發表，中高階智慧型手機廠商正加速 18:9面板窄邊框設計的導入，預期今年下半年可見越來越多的全面屏手機上市。 此改變對IDC的需求在長期是有利的，但因發生的比較突然，短期內已影嚮到 既有款式的進展，可能會引發短暫的成長延滯效應。
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
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In the long run, the Company will continue focusing on mid to high‐end product segments in an attempt to maintain gross margin at a healthy level.
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預期中高階產品出貨持續成長，產品組合改善，有助於保持良好的毛利率水準。
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CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
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Copyright ©2017 FocalTech Systems Co., Ltd. All Rights Reserved.
The information in this document may contain predictive statements including, without limitation, statements regarding the future financial and operating results, future product portfolio, new technology, etc. There are a number of factors that could cause actual results and developments to differ materially from those contained in the predictive statements. Therefore, such information is provided for reference purpose only and constitutes neither an offer nor an acceptance. FocalTech makes no warranties, express, implied or otherwise, regarding the accuracy or completeness of those information. FocalTech may change the information at any time without keeping recipients updated of any information contained in this document.
www.focaltech-electronics.com
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Gross Margin / 毛利率
%
24
23.3
23.0
21 20.5
19.6
18.7
18.2
18 17.4
17.2
15.5
15
12
15' 1Q 15' 2Q 15' 3Q 15' 4Q 16' 1Q 16' 2Q 16' 3Q 16' 4Q 17'Q1
CONFIDENTIAL
@2017 Caltech Systems Co., Ltd. All rights reserved
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