Hsinchu, Taiwan - Coretronic Corporation (5371.TW) today announced its financial results for the second quarter of 2014. For the second quarter ended June 30, 2014, Coretronic posted consolidated sales revenue of NT$21,043 million, up 10% QoQ and 19% YoY respectively. Operating income was reported at NT$1,012 million with a net income of NT$851 million, up 112% and 121% YoY respectively. Net income attributable to equity holders of the parent company was NT$808 million with the basic EPS of NT$1.12 per common share. For the first half of 2014, Coretronic reported consolidated sales revenue of NT$40,149 million and the operating income totaled NT$1,694 million with a net income of NT$1,326 million. Net income attributable to equity holders of the parent company was NT$1,262 million with the basic EPS of NT$1.74 per common share. "For 2Q14, the BLU shipment was 22.14 million units, up 5% QoQ, mainly due to strong demand from NB and TV models, up 30% and 8% QoQ respectively. The BLU revenue amounted to NT$14,646 million, up 9% QoQ, driven by NB and high ASP TV models with 25% QoQ growth. For 1H of 2014, the BLU shipment was 43.19 million units and revenue amounted to NT$28,051 million, up 20% and 26% respectively" said Ms. Sarah Lin, President of Energy Saving Product Business Group of Coretronic. "Look into 3Q14, Coretronic expects around 15%~20% QoQ shipment growth, thanks to the NB BLU shipment will continue its increasing trend while the Tablet BLU with strong growth." said Sarah Lin. For the peak season of second half, Coretronic therefore raise the BLU shipment target of 2014. Sarah Lin expects the TV models with 25% YoY growth, NB models will grow up 30% YoY while Tablet models with 40%~50% YoY growth, Monitor models shipment revise from 10% YoY drop to flat. The overall BLU outlook will be growth in 2H14. "For 2Q14, the shipment of Projector products was 292K units and the sales revenue was NT$3,796 million, up 11% and 16% QoQ respectively. For 1H of 2014, Projector shipment was 555K units and revenue amounted to NT$7,078 million, up 30% and 22% YoY respectively. This was resulting from increase contributed by new product launch and global market upturns in the first half." said Mr. SY Chen, President of Visual Solutions Business Group of Coretronic. Look into 2H14, SY Chen points out that Coretronic is combining interactive touch and auto blending technologies to provide total visual solutions for education and corporate market. In addition, Coretronic will provide new 1080p models with more competitive features to meet the market and customer requested and expected the outlook will gradually grow in the second half. Therefore, Coretronic expects the monthly shipment quantity is 100K~110K units in 3Q14. "Coretronic expects around 20% YoY growth in shipments in 2014." said SY Chen. * Basic EPS was calculated based on the total weighted average outstanding shares of each quarter (724m shares in 2Q14).

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