AUO posts $2.15B Q3 revenues

AU Optronics Corp. (AUO) announced third quarter revenue totaled $2.15 billion. Net income was at $19 million, and basic EPS of 3 cents per common share.

For the nine months ended September 30, 2006, AUO's consolidated revenues totaled $6 billion, net income of $225 million, and basic EPS 37 cents per common share.

Mr. Max Cheng, vice president and chief financial officer of AUO noted that Q3 panel shipments are better than the company's guidance announced on July 25. Shipments of large-sized panels increased 24.6 percent to 12.6 million from 2Q, and a remarkable Y-o-Y growth of 58.4 percent.

Meanwhile, shipments of small- and medium-sized panels rose by 15.1 percent to 20.8 million from last quarter, up 18.3 percent from a year earlier. Although the average selling price in some PC-related applications had hit rock bottom and began to rebound, the AUO's operation in Q3 still experienced the drop in ASP in LCD TV panels, resulting panel ASP by square meter declined by about 12 percent.

Earlier this month, AUO completed its merger with Quanta Display Inc. The company said it will leverage its competitive advantage to not only increase the shipment volume and revenue in the next coming quarters but also assure worldwide customers with the most flexible solutions to meet their needs.