The global economy fluctuations caused a curb on capital spending in 2H, 2011, particularly in solar and LED markets. As result of this, the growth in 1H from solar and LED businesses has been diluted; meanwhile the power business still remained industry-leading organic growth.
In the fiscal 2011 financial results, the consolidated sales revenues were NTD 14,148 million. Chroma’s parent only sales revenues reached NTD 5,338 million, a decrease of 5% compared with NTD 5,640 in 2010. Net income reached 1,523 million, a decrease of 16% from NTD 1,812 million, while basic earnings per share decrease to NTD 4.06, compared to NTD 4.85 in year 2010. EPS is based on weighted average outstanding shares of 375 million.
The Company’s board of directors has proposed the year 2011 dividend payout of NTD 2.5 cash dividend only. The dividend will be paid out after the resolution of Annual General Shareholder Meeting, scheduled on 6th of June, 2012.
Although the global economy remains uncertain, the Company still expected a growth of sales revenues in 2012, mainly contributed from the Power, LED Solid State Lighting (SSL) and semiconductor businesses. Furthermore, Chroma expects to increase sales contribution outside of Asia from US, Europe and Japan to 30% and increase high recognition from global top-tier customers through enhanced product design capability. Chroma continues to maintain strong corporate governance and maximize corporate value as our commitment to shareholder. We are confident, the strong free cash flow and solid operating model will put us to well position in the market and sustained long term growth through every economy cycle.
Chairman and CEO
Chroma Ate Inc.