TAOYUAN, TAIWAN, March 5, 2010 – Qisda Corp. today convened an investor conference to announce fourth quarter and annual operating results for 2009. For the fourth quarter of 2009, Qisda's consolidated revenue was NT$ 19.57 billion, with a positive operating income of NT$0.32 billion. Quarter-on-quarter revenue decreased 12.6% due to seasonal factors.
Overall, the company reported consolidated revenue of NT$79.67 billion in 2009 with a positive operating income of NT$1.1 billion. Non-operating losses resulted in an after-tax net loss of NT$1.81 billion and EPS of NT$ -0.94.
Recalling operational performance in 2009, Chief Financial Officer David Wang noted the decrease in panel prices and the relocation of the company’s LCD TV ODM business as contributing factors in Qisda’s 2009 consolidated revenue of NT$79.67 billion, a 28.4% reduction compared to NT$111.34 billion in 2008. On the other hand, product mix improvement and cost control measures resulted in an increase in gross profit margin 4.4% to 7.6% while the company’s operating profit percentage went from a negative 1.2% in 2008 to a positive 1.4% in 2009. Additionally, Qisda’s financial liabilities improved significantly from NT$39.5 at the end of 2008 to NT$21.2 billion at the end of 2009.
Since the fourth quarter of 2008, Qisda has made operational profit for five consecutive quarters. CEO Hui Hsiung commented that 2010 will be full of opportunities for Qisda and that the company’s goals would be primarily aimed at revenue and earnings growth. He further explained that Qisda expects to continue to see growth in both the LCD monitor and projector product lines. In addition, the proportion of revenues from other product lines is also expected to gradually increase.
In addition to continuing to strengthen the company’s product portfolio and cost management measures, Hui Hsiung also established an official “Corporate Sustainable Development” platform to enhance green product development and socially responsibility practices. At the beginning of this year, Qisda’s LCD monitor business unit earned the world’s first carbon footprint reasonable assurance certification for its TFT-LCD monitors.