Hsinchu, Taiwan, November 12, 2019 – Sino-American Silicon Products Inc. (SAS) board approved Q3 2019 earnings results today with the consolidated revenue of NT$16.10 billion, gross profit of NT$5.54 billion, operating profit of NT$4.08 billion, profit before tax of NT$4.29 billion, net income attributable to the parent company of NT$1.6 billion, and EPS amounts to NT$2.76! GlobalWafers Co., Ltd. (GWC), its semiconductor subsidiary, also announced consolidated revenue of NT$14.3 billion, net income attributable to the parent company of NT$3.32 billion and EPS achieved NT$7.64 !
Regarding the third quarter financial results – operating margin was 25.3% and net profit margin was 20.1%. Compared to same period last year – consolidated revenue decreased by 6.8%, gross margin and operating profit increased by 6.5% and 5.3% respectively. Net income attributable to the parent company grew by 94.4 %! EPS was also up by NT$1.34 year-on-year! Benefited from GWC’s high gross margin and EPS, SAS was profitable in gross margin, operating profit, net income attributable to the parent company as well as EPS, which all out-performed last year!
Regarding year-to-date financial results, SAS achieved accumulated consolidated revenues of NT$50.26 billion, a decrease of 2.3% year-on-year, also with gross profit NT13.92 billion, a decrease of 5.3% year-on-year, operating profit NT$9.76 billion, a decrease of 8.0% year-on-year, net income attributable to the parent company NT$1.16 billion, a decrease of 54.0% year-on-year. EPS was NT$2.0, down by NT$2.35 than last year. GWC’s consolidated revenue for the first three quarters totaled NT$44.58 billion which injected income contribution to parent company SAS up to 90% with NT$24.67 EPS! The NT$4.35 billion recognition on the liability provision impacted not only the second quarter but also the accumulated performances in the first three quarters; however the remarkable operation of GWC boosted the overall earning power of SAS.
The Board also approved dividend distribution amendment to Articles of Incorporation so as to change the frequency of earning distribution or loss coverage from one year to every six months. Cash distribution shall be approved by the Board then distribute; if the distribution is new share issuance, it shall be approved by the shareholders’ meeting then distribute. SAS dedicates to be in line with international practices, dividend payout in every 6 months is steady income stream for shareholders, beneficial for reinvest and flexible use of funds, helping shareholders to maximize their financial assets. With superior performance and sufficient free cash flow, SAS fulfills its commitment to share the constant growth with shareholders. High payout ratio policy in conjunction with a robust track record of profits delivers substantial earnings for shareholders.