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CMO's Q2 net sales decreases by 23%

Posted: 23 Aug 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Chi Mei Optoelectronics? CMO? net sales? q2? panel?

Chi Mei Optoelectronics (CMO) reported that unconsolidated net sales for the Q2 2006 totaled $1.11 million, a 23 percent decrease over the previous quarter's $1.44 million.

According to CMO, they were able to surpass its cost reduction target and achieve gross margin of 9.4 percent and operating margin of 1.2 percent through efforts in product redesign.

Non-operating losses include interest expense, loss from long-term investments, and an inventory loss provision. Net loss amounted to $30.36 million.

On an unconsolidated basis, CMO shipped 7.05 million panels in Q2, which represents a 1.4 percent increase over the previous quarter's 6.96 million panels. Blended ASP dropped 24 percent quarter over quarter, to $161 due to changes in product mix and price erosion across all products.

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