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ALi Corporation (3041 TT) today announced the total consolidated revenue for Mar 2013 reached NT$278.3 million, representing an increase of 23.9% MoM and a decrease of 54.8% YoY. Aggregate revenue from January to March of 2013 was NT$858.4 million, down 39.8% from the same period last year.

The company expressed that the increase in STB retail market revenue was mainly a result of more working days in March, along with the continuous success of retail IP STB. The company will keep investing in Pay-TV operator market and development of retail IP STB. The year-over-year sales decrease was due to higher March sales base in 2012 resulting from the ASO in Western Europe. Although the aggregate revenue from January to March of 2013 decreased year-over-year, the company has seen higher percentage of revenue contribution from Pay-TV operator market and IP STB and expects these two product segments to continuously fuel long-term growth momentum.       

All the transaction regarding the disposal of the 7th-10th floors and corresponding parking and public spaces of ALi’s office building, the NASA Building, has been consummated. The gain on disposal will be recognized during the second quarter 2013. In addition, the company also announced to hold the annual shareholders’ meeting on June 25, 2013 with share transfer registration suspended from April 27 to June 25, 2013.  For more information, please visit the information webpage on MOPS. 
 

Consolidated Sales Report, Mar 2013 (in NT$1,000)

Note: Figures have not been audited; consolidated entities include ALi Corporation and its subsidiaries.

ALi Corporation (3041TT) today held its 2012 fourth quarter online earnings conference and announced consolidated revenue of NT$1,184 million, consolidated gross profit of NT$530 million with consolidated gross profit margin of 45%, consolidated operating income of NT$170 million with consolidated operating profit margin of 14%, net income of NT$101 million, and basic earnings per share of NT$0.35 for the fourth quarter ended December 31st, 2012. Additionally, the company announced 2012 annual consolidated revenue of NT$5,123 million, consolidated gross profit of NT$2,423 million with consolidated gross profit margin of 47%, consolidated operating income of NT$933 million with consolidated operating profit margin of 18%, net income of NT$770 million, and basic earnings per share of NT$2.63.

ALi Corporation stated that fourth quarter’s revenue of NT$1,184 million, despite a 3% decrease on a quarter-over-quarter basis, met the previous fourth quarter guidance which predicted between an increase by 5% and a decrease by 5%. The quarterly result was due to the global economic slowdown and political uncertainty suppressing the demand for STB products in retail market. However, the China market continued its seasonal momentum with increasing product revenues from not only Pay-TV operators but also retail IP STB. As a result of the demand to upgrade from standard definition to high definition, increase in mass production shipment of IP STB (OTT), as well as years of cultivating relationship with Pay-TV cable operators, revenue in this quarter increased by 6% on a year-over-year basis.  Consolidated gross profit margin was 45%, declining by 2 percentage points compared to 47% last quarter but still in line with the fourth quarter guidance of 45%-47%. Operating profit margin of 14% was lower than previous guidance of 15%-17%.

ALi Corporation also announced its consolidated 2012 revenue totaled NT$5.12 billion, up 39% YoY, thanks to the demand fueled by regional ASO (Analog Switch-off) and transition from standard-definition digital STB to high-definition devices, significant progress in cultivating relationship with Pay-TV operators in emerging markets, and development of retail IP STB. Consolidated gross profit margin was 47%, up 2 percentage points compared to 45% of 2011, mainly due to better product mix. Operating profit increased by 76% on a year-over-year basis with operating profit margin of 18%, 4 percentage points higher than 14% of 2011.

As to the product line contribution in the fourth quarter, STB accounted for around 90% of the revenue. ALi’s STB end markets can be categorized into retail HD, retail SD satellite, retail SD terrestrial, retail IP STB (OTT), and Pay-TV operators, which accounted for 45~50%, 25~30%, 15~20%, 3~5% and 5~10% of STB revenue respectively. In terms of geographical revenue breakdown, China accounted for 10-15% of total STB revenue, while emerging markets for 45-50% and Europe & US for 40-45%.  Regarding the product line contribution in 2012, STB accounted for over 90% of the revenue. Retail HD, retail SD satellite, retail SD terrestrial, retail IP STB (OTT), and Pay-TV operators accounted for 55~60%, 20~25%, 10~15%, 1~5% and 5~10% of STB revenue, respectively. As for geographical revenue breakdown, China accounted for 5-10% of total STB revenue, while emerging markets for 50-55% and Europe & US for 35-40%.