Walsin Lihwa Announced 2007 Financial Results
of NT$ 0.51 Earnings Per Share and cash dividend of NT$0.3 proposal
2008/03/25
Walsin Lihwa Corporation held board meeting today (March 25) approved 2007 financial report. Net income after tax reached NT$ 1.6 billion, earning per share at NT$ 0.51. The board approved 2007 earnings distribution proposal of cash dividend of NT$0.3 that will be discussed and voted at the regular annual shareholders' meeting scheduled at 9 a.m., Friday, June 13, at the Grand Victoria Hotel.
Walsin Lihwa's 2007 sales scored continuous growth. The stand-alone operating revenue of year 2007 has reached NT$ 79.62 billion, up 26% from year 2006. The consolidated operating revenue has reached to NT$ 164.5 billion, a 33% growth from last year. The stand-alone gross profit has reached NT$ 2.75 billion, and the consolidated gross profit came to NT$ 6.29 billion. The stand-alone income from operations has reached NT$ 1.63 billion, and the consolidated income from operations was NT$ 2.59 billion. Net income after tax has totaled NT$ 1.64 billion, earning per share was NT$ 0.51. The main factors influenced 2007 profit includes nickel price volatility in the 3rd quarter that effected stainless steel earnings and also the investment loss from subsidiaries investment in the 4th quarter.
There were several decisions have been approved as well by the board today:
1.Capital injection of USD 55.5 million for Walsin Lihwa Holdings Ltd to further increase operating capital.
2.WEC Investment Holding Ltd. (WIH) invests USD 2.31 million for acquiring additional 22.99% share of Jiangyin Yuantai Stainless Steel Products Co., Ltd., to reinforce specialty steel business.
Walsin Lihwa Corporation established in 1966, has been the leading manufacturer for copper, power cables, communication wires and specialty steel.
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