Commission File Number 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
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(Address of principal executive offices)
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Form 20-F X Form 40-F
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Yes ....... No ...X... |
1.
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Press release entitled,” AUO Reports 3Q2011 Financial Results”, dated October 25, 2011.
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2.
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Investor Conference Materials entitled, “AU Optronics Corp. Third Quarter 2011 Results”, dated October 25, 2011.
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AU Optronics Corp.
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||||
Date: October 25, 2011
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By:
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/s/ Andy Yang
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||
Name:
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Andy Yang
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|||
Title:
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Chief Financial Officer
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Ÿ
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Revenue of NT$98,927 million, up 0.9% quarter-over-quarter
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Ÿ
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Net loss of NT$15,796 million
|
Ÿ
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Basic EPS of -NT$1.79 per common share
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Ÿ
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Gross margin of -9.2%
|
Ÿ
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Operating margin of -17%
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Ÿ
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EBITDA (3) margin of 5.6%
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For more information, please contact:
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Freda Lee
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Yawen Hsiao
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Corporate Communications Division
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Corporate Communications Division
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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
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[GRAPHIC OMITTED] AU Optronics Corp. Third Quarter 2011 Results Investor Conference Oct 25, 2011 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. |
[GRAPHIC OMITTED] CONSOLIDATED INCOME STATEMENT Amount : NT$ Million Except Per Share Data 3Q'11 2Q'11 QoQ % 3Q'10 ------------------ ------------------ -------- ---------- ------- Net Sales 98,927 100.0% 98,050 100.0% 0.9% 124,403 100.0% Cost of Goods Sold (108,070) (109.2%) (100,531) (102.5%) 7.5% (118,162) (95.0%) ========= ======== ========= ======== ======== ========== ======= Gross Profit (Loss) (9,142) (9.2%) (2,482) (2.5%) 268.4% 6,241 5.0% Operating Expenses (7,676) (7.8%) (6,638) (6.8%) 15.6% (6,009) (4.8%) ========= ======== ========= ======== ======== ========== ======= Operating Income (Loss) (16,818) (17.0%) (9,120) (9.3%) 84.4% 232 0.2% Net Non-operating Expenses (853) (0.9%) (2,229) (2.3%) (61.7%) (253) (0.2%) ========= ======== ========= ======== ======== ========== ======= Loss before Tax (17,671) (17.9%) (11,349) (11.6%) 55.7% (20) (0.0%) ========= ======== ========= ======== ======== ========== ======= Net Income (Loss) (15,796) (16.0%) (10,766) (11.0%) 46.7% 227 0.2% ========= ======== ========= ======== ======== ========== ======= Attributable to: Equity holders of the parent company (15,810) (16.0%) (10,801) (11.0%) 46.4% 98 0.1% Minority interest 14 0.0% 35 0.0% (60.2%) 129 0.1% ========= ======== ========= ======== ======== ========== ======= Net Income (Loss) (15,796) (16.0%) (10,766) (11.0%) 46.7% 227 0.2% ========= ======== ========= ======== ======== ========== ======= Basic EPS (NT$)(a) (1.79) (1.22) 46.4% 0.01 Operating Income + DandA 5,523 5.6% 13,292 13.6% (58.4%) 22,495 18.1% Unit Shipments (mn)(b) Large Size Panels 29.7 29.6 0.2% 28.7 Small and Medium Size Panels 52.0 45.5 14.4% 55.6 -- Unaudited, prepared by AUO on a consolidated basis (a) Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (8,827m shares in 3Q'11, in 2Q'11 and in 3Q'10) by retroactively adjusting to stock dividend and stock bonus (b) Large size refers to panels that are 10 inches and above [GRAPHIC OMITTED] CONSOLIDATED BALANCE SHEET HIGHLIGHTS Amount : NT$ Million 3Q'11 2Q'11 QoQ % 3Q'10 ------- ------- ------ ------- Cash and ST Investment 83,421 87,421 (4.6%) 85,173 Inventory 51,521 52,611 (2.1%) 49,917 Short Term Debt(a) 43,842 37,159 18.0% 48,866 Long Term Debt 174,504 164,296 6.2% 118,868 Equity 239,582 253,723 (5.6%) 293,917 Total Assets 622,202 619,457 0.4% 641,004 Inventory Turnover (Days)(b) 44 46 40 Debt to Equity 91.1% 79.4% 57.1% Net Debt to Equity 56.3% 44.9% 28.1% -- 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 |
[GRAPHIC OMITTED] CONSOLIDATED CASH FLOW HIGHLIGHTS Amount : NT$ Million 3Q'11 2Q'11 QoQ --------- -------- --------- From Operating Activities 4,761 13,552 (8,791) Net Loss (15,796) (10,766) (5,031) Depreciation and Amortization 22,341 22,412 (71) Net Change in Working Capital (3,546) 5,647 (9,193) =============================== ========= ======== ========= From Investing Activities (18,113) (12,132) (5,982) Capital Expenditure (15,258) (14,959) (299) =============================== ========= ======== ========= From Financing Activities 9,464 16,490 (7,026) Net Change in Debt 13,149 15,329 (2,180) =============================== ========= ======== ========= Net Change in Cash(a) (4,000) 17,859 (21,859) -- 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 [GRAPHIC OMITTED] CONSOLIDATED REVENUES BY APPLICATION [GRAPHIC OMITTED] -- Unaudited, prepared by AUO on a consolidated basis |
[GRAPHIC OMITTED] CONSOLIDATED SHIPMENTS AND ASP BY AREA Shipments in square meter [GRAPHIC OMITTED] ASP per square meter [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 [GRAPHIC OMITTED] CONSOLIDATED SMALL AND MEDIUM PANEL SHIPMENTS BY AREA AND REVENUES Shipments in square meter [GRAPHIC OMITTED] Revenues [GRAPHIC OMITTED] -- Unaudited, prepared by AUO on a consolidated basis -- Small and Medium size refers to panels that are under 10 inches |
[GRAPHIC OMITTED] CAPACITY BY FAB 9/2011 12/2011 (F) Fab Major Products Capacity Capacity L3 (G3.5) 130,000 90,000 Small/Medium ========= ============ ============ ======================= L3 (G3.5) LTPS 20,000 LTPS 40,000 Small/Medium ========= ============ ============ ======================= L4 (G4.0) 60,000 60,000 Small/Medium ========= ============ ============ ======================= L4 (G4.5) LTPS 45,000 LTPS 45,000 NB, Small/Medium ========= ============ ============ ======================= L5 (G5.0) 310,000 310,000 NB, Monitor ========= ============ ============ ======================= Monitor, TV, Public L6 (G6.0) 240,000 240,000 Info Display ========= ============ ============ ======================= Monitor, TV, Public L7 (G7.5) 135,000 135,000 Info Display ========= ============ ============ ======================= L8 (G8.5) 60,000 60,000 TV, Public Info Display -- Capacity based on monthly glass substrate input [GRAPHIC OMITTED] www.auo.com ------------ ir@auo.com ------------ |
September 30, 2011
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September 30, 2010
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YoY
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||||||||||||||||||||||||||
ASSETS
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USD
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NTD
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%
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NTD
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%
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Change
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%
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|||||||||||||||||||||
Cash and Cash Equivalents
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2,740 | 83,421 | 13.4 | 85,173 | 13.3 | (1,752 | ) | (2.1 | ) | |||||||||||||||||||
Notes & Accounts Receivables
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2,116 | 64,444 | 10.4 | 75,142 | 11.7 | (10,698 | ) | (14.2 | ) | |||||||||||||||||||
Other Current Financial Assets
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41 | 1,242 | 0.2 | 886 | 0.1 | 357 | 40.3 | |||||||||||||||||||||
Inventories
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1,692 | 51,521 | 8.3 | 49,917 | 7.8 | 1,604 | 3.2 | |||||||||||||||||||||
Other Current Assets
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461 | 14,033 | 2.3 | 10,161 | 1.6 | 3,871 | 38.1 | |||||||||||||||||||||
Total Current Assets
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7,050 | 214,660 | 34.5 | 221,279 | 34.5 | (6,619 | ) | (3.0 | ) | |||||||||||||||||||
Long-term Investments
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618 | 18,813 | 3.0 | 16,546 | 2.6 | 2,267 | 13.7 | |||||||||||||||||||||
Fixed Assets
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30,095 | 916,392 | 147.3 | 857,529 | 133.8 | 58,863 | 6.9 | |||||||||||||||||||||
Less: Accumulated Depreciation
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(18,286 | ) | (556,807 | ) | (89.5 | ) | (477,357 | ) | (74.5 | ) | (79,450 | ) | 16.6 | |||||||||||||||
Net Fixed Assets
|
11,809 | 359,585 | 57.8 | 380,172 | 59.3 | (20,587 | ) | (5.4 | ) | |||||||||||||||||||
Other Assets
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957 | 29,145 | 4.7 | 23,007 | 3.6 | 6,138 | 26.7 | |||||||||||||||||||||
Total Assets
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20,434 | 622,202 | 100.0 | 641,004 | 100.0 | (18,801 | ) | (2.9 | ) | |||||||||||||||||||
LIABILITIES
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||||||||||||||||||||||||||||
Short-term Borrowings
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91 | 2,783 | 0.4 | 1,819 | 0.3 | 964 | 53.0 | |||||||||||||||||||||
Accounts Payable
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3,101 | 94,439 | 15.2 | 109,106 | 17.0 | (14,667 | ) | (13.4 | ) | |||||||||||||||||||
Current Installments of Long-term Borrowings
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1,348 | 41,059 | 6.6 | 47,046 | 7.3 | (5,987 | ) | (12.7 | ) | |||||||||||||||||||
Current Financial Liabilities
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3 | 95 | 0.0 | 521 | 0.1 | (427 | ) | (81.8 | ) | |||||||||||||||||||
Accrued Expense & Other Current Liabilities
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1,328 | 40,437 | 6.5 | 39,230 | 6.1 | 1,207 | 3.1 | |||||||||||||||||||||
Machinery and Equipment Payable
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526 | 16,031 | 2.6 | 18,638 | 2.9 | (2,607 | ) | (14.0 | ) | |||||||||||||||||||
Total Current Liabilities
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6,399 | 194,844 | 31.3 | 216,361 | 33.8 | (21,517 | ) | (9.9 | ) | |||||||||||||||||||
Long-term Borrowings
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5,037 | 153,362 | 24.6 | 115,278 | 18.0 | 38,084 | 33.0 | |||||||||||||||||||||
Bonds Payable
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694 | 21,143 | 3.4 | 3,590 | 0.6 | 17,552 | 488.9 | |||||||||||||||||||||
Non Current Financial Liabilities
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34 | 1,027 | 0.2 | 528 | 0.1 | 499 | 94.5 | |||||||||||||||||||||
Other Long-term Liabilities
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402 | 12,245 | 2.0 | 11,330 | 1.8 | 916 | 8.1 | |||||||||||||||||||||
Total Long-term Liabilities
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6,167 | 187,777 | 30.2 | 130,725 | 20.4 | 57,051 | 43.6 | |||||||||||||||||||||
Total Liabilities
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12,566 | 382,620 | 61.5 | 347,086 | 54.1 | 35,534 | 10.2 | |||||||||||||||||||||
SHAREHOLDERS' EQUITY
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||||||||||||||||||||||||||||
Common Stock
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2,899 | 88,270 | 14.2 | 88,270 | 13.8 | 0 | 0.0 | |||||||||||||||||||||
Capital Surplus
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3,828 | 116,551 | 18.7 | 116,109 | 18.1 | 442 | 0.4 | |||||||||||||||||||||
Retained Earnings
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598 | 18,203 | 2.9 | 73,787 | 11.5 | (55,584 | ) | (75.3 | ) | |||||||||||||||||||
Cumulative Translation Adjustments
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71 | 2,165 | 0.3 | 1,723 | 0.3 | 441 | 25.6 | |||||||||||||||||||||
Unrealized Gain (Loss) on Financial Products
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(2 | ) | (51 | ) | 0.0 | 737 | 0.1 | (788 | ) | – | ||||||||||||||||||
Net loss not recognized as pension cost
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(0 | ) | (1 | ) | 0.0 | 0 | 0.0 | (1 | ) | – | ||||||||||||||||||
Minority Interest
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474 | 14,445 | 2.3 | 13,291 | 2.1 | 1,155 | 8.7 | |||||||||||||||||||||
Total Shareholders' Equity
|
7,868 | 239,582 | 38.5 | 293,917 | 45.9 | (54,335 | ) | (18.5 | ) | |||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
20,434 | 622,202 | 100.0 | 641,004 | 100.0 | (18,801 | ) | (2.9 | ) |
Note:
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(1) Unaudited, prepared by AUO based on ROC GAAP
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(2) Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD30.45 per USD as of September 30, 2011
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Year over Year Comparison | Sequential Comparison | |||||||||||||||||||||||||||||||||||||||
3Q 2011 | % of | 3Q 2010 |
YoY
|
3Q 2011 |
% of
|
2Q 2011 |
QoQ
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|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
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NTD
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Chg %
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USD
|
NTD
|
Sales
|
NTD
|
Chg %
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|||||||||||||||||||||||||||||||
Net Sales
|
3,249 | 98,927 | 100.0 | 124,403 | (20.5 | ) | 3,249 | 98,927 | 100.0 | 98,050 | 0.9 | |||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,549 | 108,070 | 109.2 | 118,162 | (8.5 | ) | 3,549 | 108,070 | 109.2 | 100,531 | 7.5 | |||||||||||||||||||||||||||||
Gross Profit (Loss)
|
(300 | ) | (9,142 | ) | (9.2 | ) | 6,241 | – | (300 | ) | (9,142 | ) | (9.2 | ) | (2,482 | ) | 268.4 | |||||||||||||||||||||||
Operating Expenses
|
252 | 7,676 | 7.8 | 6,009 | 27.7 | 252 | 7,676 | 7.8 | 6,638 | 15.6 | ||||||||||||||||||||||||||||||
Operating Income (Loss)
|
(552 | ) | (16,818 | ) | (17.0 | ) | 232 | – | (552 | ) | (16,818 | ) | (17.0 | ) | (9,120 | ) | 84.4 | |||||||||||||||||||||||
Net Non-Operating Expense
|
(28 | ) | (853 | ) | (0.9 | ) | (253 | ) | 237.6 | (28 | ) | (853 | ) | (0.9 | ) | (2,229 | ) | (61.7 | ) | |||||||||||||||||||||
Loss before Income Tax
|
(580 | ) | (17,671 | ) | (17.9 | ) | (20 | ) | 86,553.8 | (580 | ) | (17,671 | ) | (17.9 | ) | (11,349 | ) | 55.7 | ||||||||||||||||||||||
Income Tax Benefit
|
62 | 1,875 | 1.9 | 247 | 658.8 | 62 | 1,875 | 1.9 | 583 | 221.4 | ||||||||||||||||||||||||||||||
Net Income (Loss)
|
(519 | ) | (15,796 | ) | (16.0 | ) | 227 | – | (519 | ) | (15,796 | ) | (16.0 | ) | (10,766 | ) | 46.7 | |||||||||||||||||||||||
Attributable to:
|
||||||||||||||||||||||||||||||||||||||||
Equity Holders of The Parent Company
|
(519 | ) | (15,810 | ) | (16.0 | ) | 98 | – | (519 | ) | (15,810 | ) | (16.0 | ) | (10,801 | ) | 46.4 | |||||||||||||||||||||||
Minority Interest
|
0 | 14 | 0.0 | 129 | (89.2 | ) | 0 | 14 | 0.0 | 35 | (60.2 | ) | ||||||||||||||||||||||||||||
Net Income (Loss)
|
(519 | ) | (15,796 | ) | (16.0 | ) | 227 | – | (519 | ) | (15,796 | ) | (16.0 | ) | (10,766 | ) | 46.7 | |||||||||||||||||||||||
Basic Earnings Per Share
|
(0.06 | ) | (1.79 | ) | 0.01 | (0.06 | ) | (1.79 | ) | (1.22 | ) | |||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
(0.59 | ) | (17.91 | ) | 0.11 | (0.59 | ) | (17.91 | ) | (12.24 | ) | |||||||||||||||||||||||||||||
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 30.45 per USD as of September 30, 2011
|
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(3) 1 ADR equals 10 common shares
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Nine Months 2011
|
Nine Months 2010
|
|||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
(1,329 | ) | (40,461 | ) | 18,747 | |||||||
Depreciation & Amortization
|
2,205 | 67,143 | 67,114 | |||||||||
Investment Gain under Equity Method
|
(9 | ) | (269 | ) | (709 | ) | ||||||
Changes in Working Capital
|
(573 | ) | (17,442 | ) | (8,871 | ) | ||||||
Changes in Others
|
(62 | ) | (1,901 | ) | (3 | ) | ||||||
Net Cash Provided by Operating Activities
|
232 | 7,071 | 76,278 | |||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Proceeds from Disposal of AFS Investments
|
1 | 20 | 40 | |||||||||
Acquisition of Property, Plant and Equipment
|
(1,447 | ) | (44,061 | ) | (57,009 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
2 | 46 | 40 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(83 | ) | (2,513 | ) | (1,208 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
126 | 3,840 | 370 | |||||||||
Decrease(Increase) in Restricted Cash in Banks
|
(1 | ) | (18 | ) | 325 | |||||||
Increase in Deferred Assets and Intangible Assets
|
(88 | ) | (2,689 | ) | (1,272 | ) | ||||||
Increase in Other Assets
|
(7 | ) | (219 | ) | (49 | ) | ||||||
Net Cash Used in Investing Activities
|
(1,497 | ) | (45,595 | ) | (58,764 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase (Decrease) in Short-term Borrowings
|
53 | 1,600 | (4,138 | ) | ||||||||
Increase in Guarantee Deposits
|
29 | 892 | 167 | |||||||||
Increase (Decrease) in Long-term Borrowings and Bonds Payable
|
1,100 | 33,482 | (13,950 | ) | ||||||||
Cash Dividends
|
(129 | ) | (3,937 | ) | 0 | |||||||
Change in Minority Interest
|
29 | 886 | 3,288 | |||||||||
Net Cash Provided(Used) by Financing Activities
|
1,081 | 32,923 | (14,633 | ) | ||||||||
Change in Consolidated Entity
|
0 | 0 | (1,852 | ) | ||||||||
Effect of Exchange Rate Changes on Cash
|
(16 | ) | (477 | ) | (1,300 | ) | ||||||
Net Decrease in Cash and Cash Equivalents
|
(200 | ) | (6,078 | ) | (271 | ) | ||||||
Cash and Cash Equivalents at Beginning of Period
|
2,939 | 89,498 | 85,443 | |||||||||
Cash and Cash Equivalents at End of Period
|
2,740 | 83,421 | 85,173 |
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 30.45 per USD as of September 30, 2011
|
September 30, 2011
|
September 30, 2010
|
YoY
|
||||||||||||||||||||||||||
ASSETS
|
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||||||||
Cash and Cash Equivalents
|
1,556 | 47,379 | 8.9 | 60,468 | 10.7 | (13,089 | ) | (21.6 | ) | |||||||||||||||||||
Notes & Accounts Receivables
|
1,938 | 59,009 | 11.1 | 70,780 | 12.5 | (11,771 | ) | (16.6 | ) | |||||||||||||||||||
Other Current Financial Assets
|
37 | 1,117 | 0.2 | 759 | 0.1 | 358 | 47.2 | |||||||||||||||||||||
Inventories
|
1,269 | 38,654 | 7.3 | 39,092 | 6.9 | (438 | ) | (1.1 | ) | |||||||||||||||||||
Other Current Assets
|
385 | 11,720 | 2.2 | 7,558 | 1.3 | 4,162 | 55.1 | |||||||||||||||||||||
Total Current Assets
|
5,185 | 157,879 | 29.8 | 178,657 | 31.5 | (20,778 | ) | (11.6 | ) | |||||||||||||||||||
Long-term Investments
|
2,441 | 74,315 | 14.0 | 62,895 | 11.1 | 11,420 | 18.2 | |||||||||||||||||||||
Fixed Assets
|
23,855 | 726,399 | 137.2 | 691,583 | 122.1 | 34,816 | 5.0 | |||||||||||||||||||||
Less: Accumulated Depreciation
|
(14,926 | ) | (454,505 | ) | (85.8 | ) | (389,249 | ) | (68.7 | ) | (65,257 | ) | 16.8 | |||||||||||||||
Net Fixed Assets
|
8,929 | 271,894 | 51.3 | 302,335 | 53.4 | (30,441 | ) | (10.1 | ) | |||||||||||||||||||
Other Assets
|
837 | 25,492 | 4.8 | 22,468 | 4.0 | 3,024 | 13.5 | |||||||||||||||||||||
Total Assets
|
17,392 | 529,580 | 100.0 | 566,355 | 100.0 | (36,775 | ) | (6.5 | ) | |||||||||||||||||||
LIABILITIES
|
||||||||||||||||||||||||||||
Accounts Payable
|
2,986 | 90,919 | 17.2 | 100,269 | 17.7 | (9,350 | ) | (9.3 | ) | |||||||||||||||||||
Current Installments of Long-term Borrowings
|
1,191 | 36,278 | 6.9 | 42,219 | 7.5 | (5,941 | ) | (14.1 | ) | |||||||||||||||||||
Current Financial Liabilities
|
1 | 45 | 0.0 | 271 | 0.0 | (227 | ) | (83.4 | ) | |||||||||||||||||||
Accrued Expense & Other Current Liabilities
|
926 | 28,189 | 5.3 | 26,950 | 4.8 | 1,239 | 4.6 | |||||||||||||||||||||
Machinery and Equipment Payable
|
430 | 13,108 | 2.5 | 15,790 | 2.8 | (2,682 | ) | (17.0 | ) | |||||||||||||||||||
Total Current Liabilities
|
5,535 | 168,539 | 31.8 | 185,500 | 32.8 | (16,961 | ) | (9.1 | ) | |||||||||||||||||||
Long-term Borrowings
|
3,690 | 112,350 | 21.2 | 96,095 | 17.0 | 16,256 | 16.9 | |||||||||||||||||||||
Bonds Payable
|
694 | 21,143 | 4.0 | 3,500 | 0.6 | 17,643 | 504.1 | |||||||||||||||||||||
Non Current Financial Liabilities
|
27 | 818 | 0.2 | 505 | 0.1 | 313 | 61.9 | |||||||||||||||||||||
Other Long-term Liabilities
|
52 | 1,593 | 0.3 | 128 | 0.0 | 1,464 | 1142.1 | |||||||||||||||||||||
Total Long-term Liabilities
|
4,463 | 135,904 | 25.7 | 100,229 | 17.7 | 35,675 | 35.6 | |||||||||||||||||||||
Total Liabilities
|
9,998 | 304,443 | 57.5 | 285,728 | 50.5 | 18,715 | 6.5 | |||||||||||||||||||||
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||
Common Stock
|
2,899 | 88,270 | 16.7 | 88,270 | 15.6 | 0 | 0.0 | |||||||||||||||||||||
Capital Surplus
|
3,828 | 116,551 | 22.0 | 116,109 | 20.5 | 442 | 0.4 | |||||||||||||||||||||
Retained Earnings
|
598 | 18,203 | 3.4 | 73,787 | 13.0 | (55,584 | ) | (75.3 | ) | |||||||||||||||||||
Cumulative Translation Adjustments
|
71 | 2,165 | 0.4 | 1,723 | 0.3 | 441 | 25.6 | |||||||||||||||||||||
Unrealized Gain (Loss) on Financial Products
|
(2 | ) | (51 | ) | 0.0 | 737 | 0.1 | (788 | ) | – | ||||||||||||||||||
Net loss not recognized as pension cost
|
(0 | ) | (1 | ) | 0.0 | 0 | 0.0 | (1 | ) | – | ||||||||||||||||||
Total Shareholders' Equity
|
7,394 | 225,137 | 42.5 | 280,627 | 49.5 | (55,490 | ) | (19.8 | ) | |||||||||||||||||||
Total Liabilities & Shareholders' Equity
|
17,392 | 529,580 | 100.0 | 566,355 | 100.0 | (36,775 | ) | (6.5 | ) |
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 30.45 per USD as of September 30, 2011
|
Year over Year Comparison | Sequential Comparison | |||||||||||||||||||||||||||||||||||||||
3Q 2011 |
% of
|
3Q 2010 |
YoY
|
3Q 2011 |
% of
|
2Q 2011 |
QoQ
|
|||||||||||||||||||||||||||||||||
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
USD
|
NTD
|
Sales
|
NTD
|
Chg %
|
|||||||||||||||||||||||||||||||
Net Sales
|
3,074 | 93,606 | 100.0 | 118,930 | (21.3 | ) | 3,074 | 93,606 | 100.0 | 93,393 | 0.2 | |||||||||||||||||||||||||||||
Cost of Goods Sold
|
3,400 | 103,538 | 110.6 | 114,562 | (9.6 | ) | 3,400 | 103,538 | 110.6 | 97,442 | 6.3 | |||||||||||||||||||||||||||||
Gross Profit (Loss)
|
(326 | ) | (9,933 | ) | (10.6 | ) | 4,369 | – | (326 | ) | (9,933 | ) | (10.6 | ) | (4,049 | ) | 145.3 | |||||||||||||||||||||||
Operating Expenses
|
196 | 5,967 | 6.4 | 4,113 | 45.1 | 196 | 5,967 | 6.4 | 5,593 | 6.7 | ||||||||||||||||||||||||||||||
Operating Income (Loss)
|
(522 | ) | (15,899 | ) | (17.0 | ) | 256 | – | (522 | ) | (15,899 | ) | (17.0 | ) | (9,642 | ) | 64.9 | |||||||||||||||||||||||
Net Non-Operating Expenses
|
(62 | ) | (1,886 | ) | (2.0 | ) | (618 | ) | 205.4 | (62 | ) | (1,886 | ) | (2.0 | ) | (2,042 | ) | (7.7 | ) | |||||||||||||||||||||
Loss before Income Tax
|
(584 | ) | (17,785 | ) | (19.0 | ) | (362 | ) | 4,814.3 | (584 | ) | (17,785 | ) | (19.0 | ) | (11,685 | ) | 52.2 | ||||||||||||||||||||||
Income Tax benefit
|
65 | 1,975 | 2.1 | 460 | 329.6 | 65 | 1,975 | 2.1 | 884 | 123.4 | ||||||||||||||||||||||||||||||
Net Income (Loss)
|
(519 | ) | (15,810 | ) | (16.9 | ) | 98 | – | (519 | ) | (15,810 | ) | (16.9 | ) | (10,801 | ) | 46.4 | |||||||||||||||||||||||
Basic Earnings Per Share
|
(0.06 | ) | (1.79 | ) | 0.01 | (0.06 | ) | (1.79 | ) | (1.22 | ) | |||||||||||||||||||||||||||||
Basic Earnings Per ADR(3)
|
(0.59 | ) | (17.91 | ) | 0.11 | (0.59 | ) | (17.91 | ) | (12.24 | ) | |||||||||||||||||||||||||||||
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 30.45 per USD as of September 30, 2011
|
|
(3) 1 ADR equals 10 common shares
|
Nine Months 2011
|
Nine Months 2010
|
|||||||||||
USD
|
NTD
|
NTD
|
||||||||||
Cash Flow from Operating Activities:
|
||||||||||||
Net Income (Loss)
|
(1,333 | ) | (40,588 | ) | 18,157 | |||||||
Depreciation & Amortization
|
1,846 | 56,225 | 57,267 | |||||||||
Investment Loss (Gain) under Equity Method
|
102 | 3,092 | (1,031 | ) | ||||||||
Changes in Working Capital
|
(559 | ) | (17,011 | ) | (12,593 | ) | ||||||
Changes in Others
|
(20 | ) | (614 | ) | 112 | |||||||
Net Cash Provided by Operating Activities
|
36 | 1,104 | 61,913 | |||||||||
Cash Flow from Investing Activities:
|
||||||||||||
Acquisition of Property, Plant and Equipment
|
(827 | ) | (25,177 | ) | (41,600 | ) | ||||||
Proceeds from Disposal of Property, Plant and Equipment
|
8 | 237 | 965 | |||||||||
Increase in Long-term Investments and AFS Investments
|
(161 | ) | (4,891 | ) | (8,640 | ) | ||||||
Proceeds from Disposal of Long-term Investments and AFS Investments
|
73 | 2,209 | 0 | |||||||||
Increase in Restricted Cash in Banks
|
(0 | ) | (1 | ) | (10 | ) | ||||||
Increase in Deferred Assets and Intangible Assets
|
(72 | ) | (2,196 | ) | (524 | ) | ||||||
Increase in Other Assets
|
(5 | ) | (139 | ) | (10 | ) | ||||||
Net Cash Used in Investing Activities
|
(984 | ) | (29,957 | ) | (49,819 | ) | ||||||
Cash Flow from Financing Activities:
|
||||||||||||
Increase in Guarantee Deposits
|
25 | 760 | 117 | |||||||||
Increase(Decrease) in Long-term Borrowings and Bonds Payable
|
870 | 26,499 | (9,227 | ) | ||||||||
Cash Dividends
|
(116 | ) | (3,531 | ) | 0 | |||||||
Net Cash Provided(Used) by Financing Activities
|
779 | 23,728 | (9,110 | ) | ||||||||
Effect of Exchange Rate Changes on Cash
|
1 | 43 | 370 | |||||||||
Net Increase (Decrease) in Cash and Cash Equivalents
|
(167 | ) | (5,082 | ) | 3,354 | |||||||
Cash and Cash Equivalents at Beginning of Period
|
1,723 | 52,460 | 57,114 | |||||||||
Cash and Cash Equivalents at End of Period
|
1,556 | 47,379 | 60,468 |
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 30.45 per USD as of September 30, 2011
|