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TPK Reports Unaudited Consolidated Financial Results for the First Quarter of 2012
2012-04-25
 
Taipei, Taiwan, ROC., April 25, 2012 – TPK Holding Co., Ltd. (TWSE: 3673) ( “TPK” or “the Company”)today reported unaudited revenues NT$40,476 million for the first quarter of 2012 (1Q12), up 59.8%year-over-year and down 11.0% sequentially. Net income for the quarter totaled NT$2,624 million.Diluted earnings per share (EPS) for the quarter was NT$10.71.

1Q12 Results Highlights

Revenues in 1Q12 decreased 11.0% sequentially, primarily attributed to seasonality and fewer workingdays in 1Q12. In 1Q12, SFF products accounted for 77% of total revenues, up from 73% for 4Q11.Revenues from touch displays (touch modules attached with display panels) decreased from 64% oftotal revenues in 4Q11 to 62% in 1Q12.

Raw material cost amounted to NT$30.3 billion in 1Q12 (approximately 74.8% of sales), slightly downfrom 75.5% in 4Q11, as a result of lower percentage of product shipments containing the cost of LCDscreen. Labor cost totaled NT$2.3 billion during the quarter, representing 5.6% of total net revenues,flat to 5.7% in 4Q11. COGS related depreciation and amortization expenses were NT$838 million forthe quarter, up from NT$718 million in 4Q11 as a result of ramp-ups in new CG production facility.

Operating expenses were NT$2,128 million. The sequential decline was primarily due to one timeadditional employee bonus accrual of around NT$350 million in 4Q11. As a percentage of revenues,total operating expenses were 5.3% in this quarter, improved from 5.6% in the fourth quarter of 2011.

Investment loss in 1Q12 amounted to NT$152 million, from the investment in Cando. Net interestexpense was NT$54 million for the quarter, up from NT$30 million in 4Q11.

1Q12 Capital Resource And Liquidity

Capital expenditures for the quarter totaled NT$2.4 billion, of which NT$1.3 billion was for capitalequipments and NT$1.1 billion for the construction of our new factory and other facilities. As of March31, 2012, TPK employed a total of 48,084 employees.

As of end of 1Q12, the Company had cash on hand of NT$14.0 billion. Total bank debt was NT$15.1billion, of which NT$6.9 billion was short term debt and NT$8.2 billion was long term debt, in addition tooutstanding ECB of NT$10.2 billion. We had total banking facilities of NT$63.8 billion as of March 312012.

IR Contact:
Freddie Liu, Chief Financial Officer
Kevin Wang, Deputy Director
Tel: +886.2.7727.1196
ir@tpk.com

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About TPK

TPK was founded solely for touch solutions in 2003. We are the inventor of transparent glass-basedprojected capacitive (P-Cap) touch solutions and the first company for mass production. TPK hascurrently five major product categories: 1) cover glass, 2) touch sensor, 3) touch module, 4) touchdisplay, and 5) touch system. Glass-based P-Cap touch solutions are our main focus. We also havePET-film production since 2Q 2010. Our production sites are located in Xiamen City of Fujian Province,China. TPK is completely and vertically integrated for one-stop shopping for touch solutions.



 
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