FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

October 25, 2006

Commission File Number     001-31335

AU Optronics Corp.
(Translation of registrant’s name into English)

No. 1 Li-Hsin Road 2
Hsinchu Science Park
Hsinchu, Taiwan
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  X   Form 40-F ___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
____

 

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Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ___ No   X  

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Not applicable

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INDEX TO EXHIBITS

Item

1.	Press release entitled, “AU Optronics Reports 3Q2006 Results”, dated October 25, 2006.
2.	Investor Conference Materials entitled, “AU Optronics Corp. Third Quarter 2006 Results”, dated October 25, 2006

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Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	AU Optronics Corp.
Date: October 25, 2006	By:	/s/ Max Cheng
		Name:	Max Cheng
		Title:	Chief Financial Officer

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Item 1

 

	News Release
AU Optronics Reports 3Q2006 Results

Issued by: AU Optronics Corp.
Issued on: October 25, 2006

Hsinchu, Taiwan, October 25, 2006 –

Third Quarter 2006 Unaudited Consolidated Financial Highlights

•	Revenues increased 17.1% QoQ to NT$71.313 billion
•	Net income increased 236.9% QoQ to NT$613 million
•	Earnings per share (basic EPS) of NT$0.10 per common share (US$0.03 per ADS)
•	Gross margin: 8.3%
•	Operating margin: 2.9%

     AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced unaudited results for 3Q2006. For the third quarter ended September 30, 2006, AUO's consolidated revenue totaled NT$71.31 billion (US$2.15 billion*), net income NT$613 million (US$19 million), and basic EPS NT$0.10 per common share (US$0.03 per ADS). For the nine months ended September 30, 2006, AUO's consolidated revenues totaled NT$198.46 billion (US$6.00 billion), net income NT$7.45 billion (US$225 million), and basic EPS NT$1.22 per common share (US$0.37 per ADS.)

     Mr. Max Cheng, Vice President and Chief Financial Officer of AUO noted that 3Q2006 panel shipments are better than the Company's guidance announced on July 25. Shipments of large-sized panels increased 24.6% to 12.6 million from 2Q, and a remarkable Y-o-Y growth of 58.4% . In the mean time, shipments of small- and medium-sized panels rose by 15.1% post 20.8 million from last quarter, up 18.3% from a year earlier. Although the ASP (average selling price) in some PC-related applications had hit rock bottom and began to rebound, the company's operation in the third quarter still experienced the drop in ASP in LCD TV panels, resulting panel ASP by square meter declined by about 12%. However, through effective increase in capacity utilization rate and component cost-down, the company’s 3Q gross margin recorded 8.3%, operating margin grew to 2.9% from 2.2% of last quarter, and maintained a stable EBITDA margin.

     Earlier this month, AUO completed its merger with Quanta Display Inc., ushering totaled capacity of the company’s G5 and G6 lines leaped to the world’s leading position. AUO will leverage its competitive advantage to not only increase the shipment volume and revenue in the next coming quarters but also assure worldwide customers with the most flexible solutions to meet their needs.

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2

*Amounts converted by an exchange rate of NTD33.1:USD1 as of September 29, 2006.

#           #           #

ABOUT AU OPTRONICS

AU Optronics Corp. (“AUO”) is one of the top three largest manufacturers* of large-size thin film transistor liquid crystal display panels (“TFT-LCD”), with approximately 20.9%* of global market share with revenues of NT$217.4billion (US$6.75 bn)* in 2005. TFT-LCD technology is currently the most widely used flat panel display technology. Targeted for 40”+ sized LCD TV panels, AUO’s next generation (7.5 -generation) fabrication facility production is scheduled for mass production in the fourth quarter of 2006. The Company currently operates two 6th-generation, four 5th-generation, one 4th-generation, and four 3.5 -generation TFT- LCD fabs, in addition to eight module assembly facilities and the AUO Technology Center specializes in new technology platform and new product development. AUO is one of few top-tier TFT-LCD manufacturers capable of offering a wide range of small- to large- size (1.5” -46”) TFT-LCD panels, which enables it to offer a broad and diversified product portfolio.

*As shown on DisplaySearch Quarterly Large-Area TFT-LCD Shipment Report dated August 25, 2006. This data is used as reference only and AUO does not make any endorsement or representation in connection therewith. 2005 year end revenue converted by an exchange rate of NTD32.2039:USD1.

Safe Harbour Notice

AU Optronics Corp. (“AUO” or the “Company”) (TAIEX: 2409; NYSE: AUO), the world’s third largest manufacturer of large-size TFT-LCD panels, today announced the above news. Except for statements in respect of historical matters, the statements contained in this Release are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These forward-looking statements were based on our management's expectations, projections and beliefs at the time regarding matters including, among other things, future revenues and costs, financial performance, technology changes, capacity, utilization rates, yields, process and geographical diversification, future expansion plans and business strategy. Such forward looking statements are subject to a number of known and unknown risks and uncertainties that can cause actual results to differ materially from those expressed or implied by such statements, including risks related to the flat panel display industry, the TFT-LCD market, acceptance and demand for our products, technological and development risks, competitive factors, and other risks described in the section entitled "Risk Factors" in our Form 20-F filed with the United States Securities and Exchange Commission on June 1st, 2006.

FOR MORE INFORMATION

Yawen Hsiao
Corporate Communications Dept.
AU Optronics Corp.
No.1, Li-Hsin Road 2, Science-Based Industrial Park,
Hsinchu City, 300, Taiwan, R.O.C.
Tel: +886-3-5008899 ext 3211
Fax: +886-3-5772730 Email:yawen.hsiao@auo.com

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AU Optronics Corp. Third Quarter 2006 Results Investor Conference October 25, 2006

Safe Harbor Notice The statements included in this presentation that are not historical in nature are "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933 and Section 21E of the United States Securities Ex change Act of 1934. These forward-looking statements, which may include statements regarding AU Optronics' future results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on AU Optronics' current expectations. Actual results may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons, including, among other things: the cyclical nature of our industry; our dependence on introducing new products on a timely basis; our dependence on growth in the demand for our products; our ability to compete effectively; our ability to successfully expand our capacity; our dependence on key personnel; general economic and political conditions, including those related to the TFT-LCD industry; possible disruptions in commercial activities caused by natural and human-induced disasters, including terrorist activity and armed conflict; and fluctuations in foreign currency exchange rates. In addition, any financial information contained herewithin is presented in conformity with accounting principles generally accepted in the Republic of China ( "ROC GAAP"). Readers should be cautioned that these accounting principles differ in many material respects from accounting principles generally accepted in the United States of America ("US GAAP"). Our release of financial forecasts and forward-looking statements at any particular time does not create any duty of disclosure beyond that which is imposed by law, and we expressly disclaim any obligation to publicly update or revise any forecasts or forward-looking statements, whether as a result of new information, future events or otherwise. Additional information as to these and other factors that may cause actual results to differ materially from AU Optronics' forward-looking statements or some of the major differences between ROC GAAP and US GAAP can be found in AU Optronics ' Annual Report on Form 20-F with respect to the year ended December 31, 2005 filed with the United States Securities and Exchange Commission. 2 1

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Consolidated Income Statement Amount : NT$ Million Except Per Share Data 3Q'06(a) 2Q'06(a) QoQ % 3Q'05 (a) ------------------------------------------------------------------------------------ Net Sales 71,313 100.0% 60,896 100.0% 17.1% 59,505 100.0% Cost of Goods Sold (65,375) (91.7%) (55,702) (91.5%) 17.4% (50,229) (84.4%) ------------------------------------------------------------------------------------- Gross Profit 5,938 8.3% 5,194 8.5% 14.3% 9,276 15.6% Operating Expenses (3,862) (5.4%) (3,828) (6.3%) 0.9% (3,369) (5.7%) ------------------------------------------------------------------------------------- Operating Income 2,075 2.9% 1,366 2.2% 51.9% 5,906 9.9% Net Non-operating Expense (1,364) (1.9%) (1,045) (1.7%) 30.5% (86) (0.1%) ------------------------------------------------------------------------------------- Income before Tax 711 1.0% 321 0.5% 121.4% 5,820 9.8% Income Tax Expense & Other (99) (0.1%) (139) (0.2%) (29.3%) 1 0.0% ------------------------------------------------------------------------------------- Net Income 613 0.9% 182 0.3% 236.9% 5,821 9.8% ------------------------------------------------------------------------------------- Basic EPS (NT$)(b) 0.10 0.03 - 1.00 ------------------------------------------------------------------------------------- Operating Income + D&A 13,871 19.5% 12,782 21.0% 8.5% 14,769 24.8% ------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Unit Shipments (MN)(c) Large Size Panels 12.6 10.1 24.6% 8.0 Small & Medium Size Panels 20.8 18.1 15.1% 17.6 ------------------------------------------------------------------------------------- (a) Unaudite d, prepared by AU Optronics Corp. on a consolidated basis (b) Basic EPS were calculated based on total weighted average outstanding shares of 6,094 million shares, 6,094mi llion shares and 5,826 million shares respectively for 3Q'06, 2Q'06 a nd 3Q '05, including retroactive a djustment of stock dividend and stock bonus (c) Large size refers to panels that are 10 inches and above 3

Consolidated Balance Sheet Highlights Amount : NT$ Million 3Q'06 (a) 2Q'06 (a) QoQ % 3Q'05 (a) ------------------------------------------------------------------------------- Cash & ST Investment 29,292 21,813 34.3% 18,976 Inventory 28,168 25,618 10.0% 15,806 Short Term Debt(b) 14,928 15,038 (0.7%) 8,631 Long Term Debt 116,223 87,156 33.4% 81,696 Equity 161,460 160,679 0.5% 144,128 Total Assets 379,646 338,903 12.0% 303,815 ------------------------------------------------------------------------------- Inventory Turnover (Days)(c) 38 40 28 Debt to Equity 81.2% 63.6% 62.7% Net Debt to Equity 64.2% 51.1% 50.6% ------------------------------------------------------------------------------- (a) Unaudited, prepared by AU Optronics Corp. on a consolidated basis (b) Short term debt refers to all interestbearing debt maturing within one year (c) Annualized, calculated by dividing the average inventory into the cost of goods sold during such period, then multiplying by 365 days 4 2

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Consolidated Cash Flow Highlights Amount : NT$ Million 3Q'06 (a) 2Q'06 (a) QoQ ------------------------------------------------------------------------------- From Operating Activities 10,631 15,340 (4,709) Net Profit 612 180 431 Depreciation & Amortization 11,795 11,416 379 Net Change in Working Capital (4,066) 2,336 (6,401) ------------------------------------------------------------------------------- From Investing Activities (29,627) (24,062) (5,565) Capital Expenditure (21,801) (23,821) 2,020 ------------------------------------------------------------------------------- From Financing Activities 26,673 4,713 21,960 Net Change in Debt 28,790 4,615 24,175 (a) Unaudited, prepared by AU Optronics Corp. on a consolidated basis 5

Consolidated Revenues by Application -- Unaudited, prepared by AU O ptronics Corp. on a consolidated basis 6 3

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Consolidated Large Panel Shipments & ASP by Unit -- Unaudited, prepared by AU Optronics Corp. on a consolidated basis -- Large size refers to panels that are 10 inches and a bove -- Blended ASP in US dollars were translated from NT$ based on average exchange rates announced by Directorate General of Customs, ROC Ministry of Finance of each respective quarter 7

Consolidated Shipments & ASP by Area -- Unaudited, prepared by AU Optronics Corp. on a consolidated basis -- ASP per square meter in US dollars were translated from NT$ based on the noon buying rate of each respective quarter 8 8 4

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Consolidated Small & Medium Panel Shipments & Revenues -- Unaudited, prepared by AU Optronics Corp. on a consolidated basis -- Small & Medium size refers to panels that are under 10 inches 9 5

Capacity by Fab Fab Substrate 9/2006 12/2006 (F) Size (mm) Capacity (a) Capacity (a) ------------------------------------------------------------------------------- 5,000 LTPS L3A (G3.5) 610 x 720 15,000 a-Si 20,000 LTPS L3B (G3.5) 610 x 720 40,000 40,000 L3C (G3.5) 600 x 720 60,000 60,000 L3D (G3.5) (b) 625 x 750 50,000 50,000 L4A (G4.0) 680 x 880 60,000 60,000 L5A (G5.0) 1100 x 1250 50,000 50,000 L5B (G5.0) 1100 x 1300 70,000 70,000 L5C (G5.0) 1100 x 1300 105,000 120,000 L5D (G5.0) (b) 1100 x 1300 70,000 70,000 L6A (G6.0) 1500 x 1850 120,000 120,000 L6B (G6.0) (b) 1500 x 1850 40,000 60,000 L7A (G7.5) 1950 x 2250 2,000 10,000 ------------------------------------------------------------------------------- (a) Capacity based on monthly glass substrate input (b) QDI's facilities, No revenue contributions to AUO on 3Q06 10 5

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www.auo.com ir@auo.com 6

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     AU OPTRONICS CORP.
CONSOLIDATED BALANCE SHEET
September 30, 2006 and 2005

(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD))

		September 30, 2006									September 30, 2005						YoY
ASSETS		USD			NTD			%			NTD			%			Change			%
Cash and Cash Equivalents		833			27,562			7.3			17,389			5.7			10,172			58.5
Short-term Investment		52			1,731			0.5			1,587			0.5			144			9.1
Notes & Accounts Receivables		1,349			44,645			11.8			37,543			12.4			7,102			18.9
Inventories		851			28,168			7.4			15,806			5.2			12,362			78.2
Other Current Financial Assets		12			405			0.1			344			0.1			61			17.6
Other Current Assets		174			5,754			1.5			6,773			2.2			(1,018	)		(15.0	)
Total Current Assets		3,271			108,265			28.5			79,442			26.1			28,823			36.3
Long-term Investments		317			10,485			2.8			5,480			1.8			5,005			91.3
Fixed Assets		11,427			378,241			99.6			296,159			97.5			82,081			27.7
Less Accumulated Depreciation		(3,782	)		(125,170	)		(33.0	)		(83,402	)		(27.5	)		(41,768	)		50.1
Net Fixed Assets		7,646			253,070			66.7			212,757			70.0			40,313			18.9
Other Assets		236			7,826			2.1			6,136			2.0			1,691			27.6
Total Assets		11,470			379,646			100.0			303,815			100.0			75,832			25.0
LIABILITIES
Accounts Payable		1,746			57,801			15.2			42,614			14.0			15,187			35.6
Current Installments of Long-term Liabilities		451			14,928			3.9			8,631			2.8			6,297			73.0
Current Financial Liabilities		8			261			0.1			0			0.0			261			-
Other Current Liabilities		861			28,495			7.5			26,548			8.7			1,947			7.3
Total Current Liabilities		3,066			101,485			26.7			77,793			25.6			23,692			30.5
Long-term Borrowings		3,028			100,223			26.4			69,696			22.9			30,527			43.8
Bonds Payable		483			16,000			4.2			12,000			3.9			4,000			33.3
Non Current Financial Liabilities		11			357			0.1			0			0.0			357			-
Other Liabilities		4			122			0.0			198			0.1			(76	)		(38.5	)
Total Liabilities		6,592			218,187			57.5			159,687			52.6			58,500			36.6
SHAREHOLDERS' EQUITY
Common Stock		1,841			60,941			16.1			58,305			19.2			2,635			4.5
Capital Surplus		1,741			57,635			15.2			57,459			18.9			176			0.3
Retained Earnings		1,279			42,333			11.2			28,247			9.3			14,086			49.9
Cumulative Translation Adjustment		10			324			0.1			80			0.0			245			306.3
Unrealized Gain/Loss on Financial Products		(4	)		(124	)		(0.0	)		0			0.0			(124	)		-
Minority Interest		11			351			0.1			36			0.0			315			871.1
Total Stockholders' Equity		4,878			161,460			42.5			144,128			47.4			17,332			12.0
Total Liabilities & Stockholders' Equity		11,470			379,646			100.0			303,815			100.0			75,832			25.0

Note:  (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amount in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 33.10 per US dollar as of September 30, 2006

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     AU OPTRONICS CORP.
CONSOLIDATED INCOME STATEMENT
For the Three Months Ended September 30, 2006 and 2005 and June 30, 2006

(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) except for per share amounts and shares outstanding)

		Year over Year Comparison															Sequential Comparison
		3Q 2006			3Q 2006			% of			3Q 2005			YoY			3Q 2006			3Q 2006			% of			2Q 2006			QoQ
		USD			NTD			Sales			NTD			Chg %			USD			NTD			Sales			NTD			Chg %
Net Sales		2,154			71,313			100.0			59,505			19.8			2,154			71,313			100.0			60,896			17.1
Cost of Goods Sold		1,975			65,375			91.7			50,229			30.2			1,975			65,375			91.7			55,702			17.4
Gross Profit		179			5,938			8.3			9,276			(36.0	)		179			5,938			8.3			5,194			14.3
Operating Expenses
SG&A		83			2,745			3.8			2,384			15.2			83			2,745			3.8			2,891			(5.0	)
R&D		34			1,117			1.6			985			13.4			34			1,117			1.6			936			19.3
		117			3,862			5.4			3,369			14.6			117			3,862			5.4			3,828			0.9
Operating Income (Loss)		63			2,075			2.9			5,906			(64.9	)		63			2,075			2.9			1,366			51.9
Net Non-Operating Income    (Expense)		(41	)		(1,364	)		(1.9	)		(86	)		1478.8			(41	)		(1,364	)		(1.9	)		(1,045	)		30.5
Income before Income Tax		21			711			1.0			5,820			(87.8	)		21			711			1.0			321			121.4
Income Tax Benefit (Expense)		(3	)		(99	)		(0.1	)		(0	)		-			(3	)		(99	)		(0.1	)		(141	)		(29.7	)
Changes in Principle		0			0			0.0			0			-			0			0			0.0			(0	)		-
Minority Interest in Net Loss    (Income)		0			0			0.0			1			(61.2	)		0			0			0.0			1			-
Net Income (loss)		19			613			0.9			5,821			(89.5	)		19			613			0.9			182			236.9
Basic Earnings Per Share		0.00			0.10						1.00						0.00			0.10						0.03
Basic Earnings Per ADS(3)		0.03			1.01						10.04						0.03			1.01						0.30
Weighted Average Number of    Shares Outstanding (Million)					6,094						5,826									6,094						6,094

Note:   (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amounts in New Taiwan dollars were translated into U.S. dollars at the exchange rate of NT$33.10 per US dollar as of September 30, 2006
(3)		1 ADR equals 10 common shares

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     AU OPTRONICS CORP.
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2006 and 2005

(Expressed in Millions of New Taiwan Dollars (NT D) and U.S. Dollars (USD))

		Nine Months 2006						Nine Months 2005
		USD			NTD			NTD
Cash Flows from Operating Activities:
Net Income		225			7,442			4,158
Depreciation & Amortization		1,020			33,758			24,192
Provision for Inventory Devaluation		23			760			492
Investment Loss under Equity Method		38			1,250			268
Disposal Gain on Long-term Investment		(1	)		(25	)		(106	)
Changes in Working Capital & Others		(124	)		(4,107	)		(2,891	)
Net Cash Provided by Operating Activities		1,181			39,078			26,114
Cash Flows from Investing Activities:
Acquisition of Property, Plant and Equipment		(1,942	)		(64,291	)		(63,456	)
Proceeds from Disposal of Property, Plant and Equipment		0			9			21
Increase in Long-term Equity Investments		(202	)		(6,701	)		(266	)
Proceeds from Disposal of Long-term Investment		3			102			297
Increase in Restricted Cash in Bank		(0	)		(13	)		(3	)
Increase in Deferred Assets and Intangible Assets		(68	)		(2,257	)		(3,078	)
Decrease in Other Assets		1			42			672
Net Cash Used in Investing Activities		(2,209	)		(73,109	)		(65,813	)
Cash Flows from Financing Activities:
Decrease in Short-term Borrowings		0			0			(6,183	)
Increase in Guarantee Deposits		0			1			4
Increase in Long-term Borrowings		976			32,302			30,463
Issuance of Common Stock for Cash		0			0			15,594
Issuance of Bonds		151			5,000			6,000
Directors' and Supervisors' Remuneration		(11	)		(380	)		(687	)
Cash Dividends		(53	)		(1,749	)		(5,935	)
Decrease in Treasury Stock		0			0			178
Change in Minority Interest		4			129			0
Net Cash Provided by Financing Activities		1,067			35,303			39,434
Effect of Exchange Rate Change on Cash		1			27			(143	)
Net Increase (Decrease) in Cash and Cash Equivalents		39			1,298			(408	)
Cash and Cash Equivalents at Beginning of Period		793			26,263			17,798
Cash and Cash Equivalents at End of Period		833			27,562			17,389

Note:   (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NT$ 33.10 per US dollar as of September 30, 2006

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     AU OPTRONICS CORP.
UNCONSOLIDATED BALANCE SHEET
September 30, 2006 and 2005

(Expressed in Millions of New Taiwan Dollars (NTD) and US Dollars (USD))

		September 30, 2006									September 30, 2005						YoY
ASSETS		USD			NTD			%			NTD			%			Change			%
Cash and Cash Equivalents		730			24,173			6.6			15,947			5.4			8,226			51.6
Short-term Investments		52			1,719			0.5			1,587			0.5			132			8.3
Notes & Accounts Receivable		1,354			44,818			12.2			37,521			12.8			7,297			19.4
Other Current Financial Assets		10			342			0.1			336			0.1			6			1.8
Inventories		766			25,342			6.9			13,569			4.6			11,773			86.8
Other Current Assets		169			5,578			1.5			6,706			2.3			(1,128	)		(16.8	)
Total Current Assets		3,081			101,971			27.9			75,665			25.8			26,306			34.8
Long-term Investments		645			21,344			5.8			11,919			4.1			9,425			79.1
Fixed Assets		10,702			354,248			96.8			279,628			95.3			74,619			26.7
Less Accumulated Depreciation		(3,577	)		(118,402	)		(32.4	)		(79,563	)		(27.1	)		(38,838	)		48.8
Net Fixed Assets		7,125			235,846			64.4			200,065			68.2			35,781			17.9
Other Assets		206			6,805			1.9			5,753			2.0			1,052			18.3
Total Assets		11,056			365,966			100.0			293,401			100.0			72,565			24.7
LIABILITIES
Accounts Payable		1,674			55,416			15.1			39,664			13.5			15,753			39.7
Current Installments of Long-term Liabilities		376			12,440			3.4			7,044			2.4			5,395			76.6
Current Financial Liabilities		8			260			0.1			0			0.0			260			-
Other Current Liabilities		803			26,579			7.3			25,260			8.6			1,319			5.2
Total Current Liabilities		2,861			94,696			25.9			71,968			24.5			22,727			31.6
Long-term Borrowings		2,830			93,689			25.6			65,149			22.2			28,540			43.8
Bonds Payable		483			16,000			4.4			12,000			4.1			4,000			33.3
Non Current Financial Liabilities		11			357			0.1			0			0.0			357			-
Other Long-term Liabilities		3			116			0.0			193			0.1			(77	)		(39.9	)
Total Liabilities		6,189			204,858			56.0			149,310			50.9			55,548			37.2
SHAREHOLDERS’ EQUITY
Common Stock		1,841			60,941			16.7			58,305			19.9			2,635			4.5
Capital Surplus		1,741			57,635			15.7			57,459			19.6			176			0.3
Retained Earnings		1,279			42,333			11.6			28,247			9.6			14,086			49.9
Cumulative Translation Adjustment		10			324			0.1			80			0.0			245			306.3
Unrealized Gain/Loss on Financial Products		(4	)		(124	)		0.0			0			0.0			(124	)		-
Total Stockholders’ Equity		4,867			161,108			44.0			144,092			49.1			17,017			11.8
Total Liabilities & Stockholders’ Equity		11,056			365,966			100.0			293,401			100.0			72,565			24.7

Note:  (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 33.10 per US dollar as of September 30, 2006

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     AU OPTRONICS CORP.
UNCONSOLIDATED INCOME STATEMENT
For the Three Months Ended September 30, 2006 and 2005 and June 30, 2006

(Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) except for per share amounts and shares outstanding)

		Year over Year Comparison															Sequential Comparison
		3Q 2006						% of			3Q 2005			YoY			3Q 2006						% of			2Q 2006			QoQ
		USD			NTD			Sales			NTD			Chg %			USD			NTD			Sales			NTD			Chg %
Net Sales		2,154			71,306			100.0			59,500			19.8			2,154			71,306			100.0			60,880			17.1
Cost of Goods Sold		2,004			66,326			93.0			50,730			30.7			2,004			66,326			93.0			56,210			18.0
Gross Profit		150			4,980			7.0			8,770			(43.2	)		150			4,980			7.0			4,670			6.6
Operating Expenses
SG&A		73			2,402			3.4			2,108			14.0			73			2,402			3.4			2,563			(6.3	)
R&D		33			1,103			1.5			977			12.9			33			1,103			1.5			924			19.3
		106			3,505			4.9			3,085			13.6			106			3,505			4.9			3,487			0.5
Operating Income (Loss)		45			1,475			2.1			5,685			(74.1	)		45			1,475			2.1			1,183			24.6
Net Non-Operating Income (Expense)		(24	)		(796	)		(1.1	)		136			-			(24	)		(796	)		(1.1	)		(877	)		(9.2	)
Income before Income Tax		21			679			1.0			5,821			(88.3	)		21			679			1.0			307			121.4
Income Tax Benefit (Expense)		(2	)		(66	)		(0.1	)		0			-			(2	)		(66	)		(0.1	)		(125	)		(47.1	)
Changes in Principle		0			0			0.0			0			-			0			0			0.0			0			-
Net Income		19			613			0.9			5,821			(89.5	)		19			613			0.9			182			236.9
Retroactively adjusted:
Basic Earnings Per Share		0.00			0.10						1.00						0.00			0.10						0.03
Basic Earnings Per ADS(3)		0.03			1.01						9.99						0.03			1.01						0.30
Weighted Average Number of
Shares Outstanding (Million)					6,094						5,826									6,094						6,094

Note:  (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amounts in New Taiwan dollars were translated into U.S. dollars at the exchange rate of NT$33.10 per US dollar as of September 30, 2006
(3)		1 ADR equals 10 common shares

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     AU OPTRONICS CORP.
UNCONSOLIDATED STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2006 and 2005

(Expressed in Millions of New Taiwan dollars (NTD) and US dollars (USD))

		Nine Months 2006						Nine Months 2005
		USD			NTD			NTD
Cash Flows from Operating Activities:
Net Income		225			7,445			4,162
Depreciation & Amortization		955			31,602			22,593
Provision for Inventory Devaluation		21			698			213
Investment Loss (Gain) under Equity Method		20			678			(475	)
Disposal Gain on Long-term Investment		0			0			(106	)
Changes in Working Capital & Others		(95	)		(3,139	)		(3,047	)
Net Cash Provided by Operating Activities		1,126			37,284			23,341
Cash Flows from Investing Activities:
Acquisition of Property, Plant and Equipment		(1,777	)		(58,806	)		(60,764	)
Proceeds from Disposal of Property, Plant and Equipment		1			44			382
Increase in Long-term Equity Investments		(301	)		(9,950	)		(300	)
Proceeds from Disposal of Long-term Investment		0			0			297
Increase in Restricted Cash in Bank		(0	)		(13	)		(3	)
Increase in Deferred Assets and Intangible Assets		(49	)		(1,608	)		(3,055	)
Decrease in Other Assets		1			44			646
Net Cash Used in Investing Activities		(2,124	)		(70,289	)		(62,797	)
Cash Flows from Financing Activities:
Decrease in Short-term Borrowings		0			0			(5,800	)
Increase in Long-term Borrowings		893			29,544			29,360
Issuance of Common Stock for Cash		0			0			15,594
Issuance of Bonds		151			5,000			6,000
Directors' and Supervisors' Remuneration		(11	)		(380	)		(687	)
Cash Dividends		(53	)		(1,749	)		(5,935	)
Decrease in Treasury Stock		0			0			178
Net Cash Provided by Financing Activities		979			32,415			38,710
Effect of Exchange Rate Change on Cash		3			96			164
Net Increase (Decrease) in Cash and Cash Equivalents		(15	)		(494	)		(582	)
Cash and Cash Equivalents at Beginning of Period		745			24,667			16,529
Cash and Cash Equivalents at End of Period		730			24,173			15,947

Note:  (1)		Unaudited, prepared by AU Optronics Corp. based on ROC GAAP
(2)		Amounts in New Taiwan dollars were translated into US dollars at the exchange rate of NTD 33.10 per US dollar as of September 30,2006

 

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