Date: 13/03/2011

Chimei Innolux reported combined TFT-LCD net sales of NT$ 480,044 million in 2010

Chimei Innolux Corporation reported its fourth quarter 2010 results. Combined TFT-LCD net sales for the fourth quarter 2010 amounted to NT$ 130,389 million, a 4.9% decrease over the previous quarter's NT$ 137,048 million. Gross loss was NT$ 9,633 million, for a gross margin of -7.4%. Operating loss totaled NT$ 17,797 million with an operating margin of -13.6%. Net loss attributable to the shareholders of the parent company amounted to NT$ 24,127 million. EPS equaled NT$ -3.79.

The Company shipped 33.6 million large-sized units in the fourth quarter 2010, which represents a 9.9% increase over 30.6 million units shipped in the second quarter 2010. Blended ASP for the large-sized products was USD 99 per unit. Combined small-and-medium sized TFT-LCD revenue for the fourth quarter of 2010 amounted to NT$ 28,590 million, an increase of 10.5%. The company shipped 123.1 million small-and-medium sized units, an increase of 13.6% over the 108.3 million units shipped in the previous quarter.

In terms of application, small & medium-sized, NB, Desktop monitor, LCD TV accounted 22%, 6%, 33% and 35% of total net sales respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 30-to-40-inch, 40-inch and above accounted for 23%, 23%, 29%, 16%, and 9% of total revenue respectively. CMI's inventory turnover day in the fourth quarter was 40 days.

For the full year 2010, combined TFT-LCD net sales totaled NT$ 480,044 million. Gross profit was NT$ 19,620 million, for a gross margin of 4.1%. Operating loss totaled NT$ 6,099 million with an operating margin of -1.3%. Net loss attributable to the shareholders of the parent company amounted to NT$ 14,835 million. EPS equaled NT$ -2.29. The company shipped 115.7 million large-sized units and 394.9 million small-and-medium sized units in the full year 2010.

CMI reported unaudited combined TFT-LCD related revenues of NT$ 37.4 billion in February 2011, a decrease of 7.4% M-o-M. CMI shipped approximately 9.7 million large-sized units, a decrease of 10.7% M-o-M; and 29.3 million small-and-medium-sized units, a decrease of 14.9% M-o-M.