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)
|
Form
20-F X
Form
40-F ___
|
Yes
..... No ..X...
|
1.
|
Press
release entitled, “AU Optronics Reports 1Q2007 Results”, dated April 24,
2007.
|
2.
|
Taiwan
Stock Exchange filing entitled, “Supplementary information on the
Company’s 2007 Annual General Shareholders’ Meeting”, dated April 24,
2007.
|
3.
|
Investor
Conference Materials entitled, “AU Optronics Corp. First Quarter 2007
Results”, dated April 24, 2007.
|
AU
Optronics Corp.
|
|||||
Date:
April
24, 2007
|
By:
|
/s/
Max Cheng
|
|||
Name:
|
Max
Cheng
|
||||
Title:
|
Chief
Financial Officer
|
News Release |
Subject: |
Supplementary
information on the Company’s 2007 Annual General Shareholders’
Meeting.
|
Regulation: |
Published
pursuant to Article 2-17 of the Taiwan Stock Exchange's Operating
Procedures for the Publication of Material Information by Listed
Companies
|
1. |
Date
of the board of directors’ resolution:
2007/04/24
|
2. |
Date
for convening the shareholders' meeting:
2007/06/13
|
3. |
Location
for convening the shareholders' meeting: 2, Hsin-An Road, Hsinchu
Science
Park, Hsinchu, Taiwan R.O.C.
|
4. |
Cause
or subjects for convening the
meeting:
|
A.
|
Report
items:
|
(1)
|
Report
of 2006 business
|
(2)
|
Supervisors’
review report
|
(3)
|
Report
of indirect investments in China in
2006
|
(4)
|
Report
of the " The merger with Quanta Display Inc. (“QDI”)
".
|
(5)
|
Report
of the " Regulations Governing Procedure for Board of Directors
Meetings".
|
B. |
Acceptances:
|
(1)
|
The
2006 Business Report and Financial
Statements.
|
(2)
|
Proposal
for distribution of 2006 profits
|
C. |
Discussions
and Elections:
|
(1) |
Proposal
for the capitalization of 2006 dividends and employee
bonus.
|
(2) |
Proposal
for the revisions to the Articles of
Incorporation.
|
(3) |
Proposal
for the revisions to the “ Procedures for Acquisition and Disposition of
Assets ” and “ Policies and Procedures for Financial Derivatives
Transactions ” ,“Guidelines for Endorsements and Guarantees”
and “Guidelines for
Lending”.(Revised)
|
(4) |
Election
of Directors.
|
(5) |
Proposal
of releasing Directors from non-competition
restrictions.
|
5. |
Starting
and ending dates of suspension of share transfer: 2007/04/15 -
2007/06/13
|
6. |
Any
other matters that need to be specified:
N/A
|
AU Optronics Corp. First Quarter 2007 Results Investor Conference |
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 Exchange 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 imp lied 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 p resented 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 |
Consolidated Income Statement Amount : NT$ Million Except Per Share Data 1Q'07(a) 4Q'06(a) QoQ % 1Q'06 Net Sales 80,720 100.0% 94,646 100.0% (14.7%) 66,252 100.0% Cost of Goods Sold (80,376) (99.6%) (87,000) (91.9%) (7.6%) (55,179) (83.3%) Gross Profit 344 0.4% 7,646 8.1% (95.5%) 11,073 16.7% Operating Expenses (4,587) (5.7%) (4,819) (5.1%) (4.8%) (3,125) (4.7%) Operating Income (Loss) (4,243) (5.3%) 2,827 3.0% - 7,948 12.0% Net Non-operating Expenses (842) (1.0%) (914) (1.0%) (7.9%) (694) (1.0%) Income (Loss) before Tax (5,085) (6.3%) 1,913 2.0% - 7,254 10.9% Net Income (Loss) (5,105) (6.3%) 1,659 1.8% - 6,650 10.0% Basic EPS (NT$)(b) (0.67) 0.19 - 1.09 Operating Income (Loss) + D&A 14,949 18.5% 21,829 23.1% - 18,495 27.9% Unit Shipments (MN)(c) Large Size Panels 15.9 16.6 (4.1%) 9.4 Small & Medium Size Panels 22.1 24.5 (9.6%) 15.8 Unaudited, prepared by AUO on a consolidated basis (a) AUO completed its merger with QDI on October 1, 2006 (b) Basic EPS were calculated based on the total diluted weighted average outstanding shares of each quarter, 1Q07of 7,574m shares, 4Q06 of 6,467m shares and 1Q06 of 6,094m shares, includi ng retroactive adjustment of stock dividend and stock bonus (c) Large size refers to panels that are 10 inches and above 3 |
Consolidated Balance Sheet Highlights Amount : NT$ Million 1Q'07(a) 4Q'06(a) QoQ % 1Q'06 Cash & ST Investment 23,514 45,774 (48.6%) 25,907 Inventory 44,753 42,444 5.4% 22,693 Short Term Debt(b) 39,805 45,619 (12.7%) 9,815 Long Term Debt 176,755 179,389 (1.5%) 87,761 Equity 226,152 231,078 (2.1%) 162,586 Total Assets 545,441 578,256 (5.7%) 335,106 Inventory Turnover (Days)(c) 49 44 35 Debt to Equity 95.8% 97.4% 60.0% Net Debt to Equity 86.1% 78.4% 45.2% Unaudited, prepared by AUO on a consolidated basis (a) AUO completed its merger with QDI on October 1, 2006 (b) Short term debt refers to all interest bearing debt maturing within one year (c) Calculated by dividing the average inventory into the annualized cost of goods sold during such period, then multiplying by 365 days 4 |
Consolidated Cash Flow Highlights Amount : NT$ Million 1Q'07 (a) 4Q'06(a) QoQ From Operating Activities 14,456 29,449 (14,993) Net Profit (Loss) (5,105) 1,651 (6,756) Depreciation & Amortization 19,192 19,002 190 Net Change in Working Capital 65 8,866 (8,801) From Investing Activities (27,716) (10,117) (17,599) Capital Expenditure (26,101) (22,956) (3,145) Cash Proceeds from QDI Acquisition 0 14,473 (14,473) From Financing Activities (8,428) (2,752) (5,676) Net Change in Debt (8,449) (2,883) (5,566) Unaudited, prepared by AUO on a consolidated basis (a) AUO completed its merger with QDI on October 1, 2006 5 |
Consolidated Revenues by Application Unaudited, prepared by AUO on a consolidated basis 6 |
Large Panel - ASP by Unit - Unaudited , prepared by AUO on a consolidated basis - Large size refers to panels that are 10 inches and above - Blended ASP in US$ 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 AUO on a consolidated basis - ASP per square meter in US$ were translated from NT$ based on th e noon buying rate of each respective quarter 8 |
Consolidated Small & Medium Panel Shipments & Revenues - Unaudited , prepared by AUO on a consolidated basis - Small & Medium size refers to panels that are under 10 inches 9 |
Capacity by Fab Substrate 3/2007 6/2007 (F) Fab Size (mm) Capacity (a) Capacity (a) L3A (G3.5) 610 x 720 40,000 40,000 L3B (G3.5) 610 x 720 20,000 LTPS 20,000 LTPS L3C (G3.5) 600 x 720 60,000 60,000 L3D (G3.5) 620 x 750 25,000 25,000 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 120,000 120,000 L5D (G5.0) 1100 x 1300 70,000 70,000 L6A (G6.0) 1500 x 1850 120,000 120,000 L6B (G6.0) 1500 x 1850 60,000 70,000 L7A (G7.5) 1950 x 2250 20,000 40,000 (a) Capacity based on monthly glass substrate input 10 |
www.auo.com ir@auo.com 12 |
AU
OPTRONICS CORP.
|
CONSOLIDATED
BALANCE SHEET
|
March
31, 2007 and 2006
|
(Expressed
in Millions of New Taiwan Dollars (NTD) and US Dollars (USD)
)
|
March
31, 2007
|
March
31, 2006
|
YoY
|
||||||||||||||||||||
ASSETS |
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||
Cash
and Cash Equivalents
|
660
|
21,797
|
4.0
|
24,052
|
7.2
|
(2,255
|
)
|
(9.4
|
)
|
|||||||||||||
Available-for-Sale
Financial Assets - Current
|
52
|
1,716
|
0.3
|
1,855
|
0.6
|
(138
|
)
|
(7.5
|
)
|
|||||||||||||
Notes
& Accounts Receivables
|
1,402
|
46,266
|
8.5
|
42,928
|
12.8
|
3,338
|
7.8
|
|||||||||||||||
Inventories
|
1,356
|
44,753
|
8.2
|
22,693
|
6.8
|
22,061
|
97.2
|
|||||||||||||||
Other
Current Financial Assets
|
48
|
1,573
|
0.3
|
449
|
0.1
|
1,124
|
250.3
|
|||||||||||||||
Other
Current Assets
|
177
|
5,831
|
1.1
|
4,433
|
1.3
|
1,398
|
31.5
|
|||||||||||||||
Total
Current Assets
|
3,694
|
121,936
|
22.4
|
96,410
|
28.8
|
25,527
|
26.5
|
|||||||||||||||
Long-term
Investments
|
394
|
13,004
|
2.4
|
5,047
|
1.5
|
7,957
|
157.7
|
|||||||||||||||
Fixed
Assets
|
16,309
|
538,371
|
98.7
|
328,299
|
98.0
|
210,072
|
64.0
|
|||||||||||||||
Less
Accumulated Depreciation
|
(4,841
|
)
|
(159,792
|
)
|
(29.3
|
)
|
(102,883
|
)
|
(30.7
|
)
|
(56,909
|
)
|
55.3
|
|||||||||
Net
Fixed Assets
|
11,469
|
378,579
|
69.4
|
225,416
|
67.3
|
153,163
|
67.9
|
|||||||||||||||
Other
Assets
|
967
|
31,921
|
5.9
|
8,233
|
2.5
|
23,688
|
287.7
|
|||||||||||||||
Total Assets
|
16,524
|
545,441
|
100.0
|
335,106
|
100.0
|
210,335
|
62.8
|
|||||||||||||||
LIABILITIES | ||||||||||||||||||||||
Short-term Borrowings | 42 | 1,400 | 0.3 | 0 | 0.0 | 1,400 | – | |||||||||||||||
Accounts Payable | 2,146 | 70,845 | 13.0 | 49,117 | 14.7 | 21,728 | 44.2 | |||||||||||||||
Current Installments of Long-term Liabilities | 1,163 | 38,406 | 7.0 | 9,815 | 2.9 | 28,591 | 291.3 | |||||||||||||||
Current Financial Liabilities | 1 | 43 | 0.0 | 72 | 0.0 | (29 | ) | (40.2 | ) | |||||||||||||
Other Current Liabilities | 955 | 31,538 | 5.8 | 25,312 | 7.6 | 6,226 | 24.6 | |||||||||||||||
Total Current Liabilities | 4,309 | 142,232 | 26.1 | 84,316 | 25.2 | 57,915 | 68.7 | |||||||||||||||
Long-term Borrowings | 4,522 | 149,263 | 27.4 | 70,761 | 21.1 | 78,502 | 110.9 | |||||||||||||||
Bonds Payable | 833 | 27,491 | 5.0 | 17,000 | 5.1 | 10,491 | 61.7 | |||||||||||||||
Other Long-term Liabilities | 9 | 303 | 0.1 | 442 | 0.1 | (139 | ) | (31.4 | ) | |||||||||||||
Total Liabilities | 9,673 | 319,289 | 58.5 | 172,520 | 51.5 | 146,770 | 85.1 | |||||||||||||||
SHAREHOLDERS' EQUITY | ||||||||||||||||||||||
Common Stock | 2,294 | 75,738 | 13.9 | 58,305 | 17.4 | 17,432 | 29.9 | |||||||||||||||
Capital Surplus | 3,355 | 110,755 | 20.3 | 57,675 | 17.2 | 53,079 | 92.0 | |||||||||||||||
Retained Earnings | 1,176 | 38,819 | 7.1 | 46,323 | 13.8 | (7,504 | ) | (16.2 | ) | |||||||||||||
Cumulative Translation Adjustments | 17 | 548 | 0.1 | 43 | 0.0 | 505 | 1165.4 | |||||||||||||||
Unrealized Gain/Loss on Financial Products | (2 | ) | (57 | ) | 0.0 | (6 | ) | 0.0 | (51 | ) | 882.7 | |||||||||||
Deferred Compensation Cost | (0 | ) | (3 | ) | 0.0 | 0 | 0.0 | (3 | ) | – | ||||||||||||
Minority Interest | 11 | 351 | 0.1 | 244 | 0.1 | 107 | 43.8 | |||||||||||||||
Total Shareholders' Equity | 6,851 | 226,152 | 41.5 | 162,586 | 48.5 | 63,566 | 39.1 | |||||||||||||||
Total Liabilities & Shareholders' Equity | 16,524 | 545,441 | 100.0 | 335,106 | 100.0 | 210,335 | 62.8 |
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars at
the
exchange rate of NTD 33.01 per USD as of March 31,
2007
|
Year
over Year Comparison
|
Sequential
Comparison
|
||||||||||||||||||||||||||||||
1Q
2007
|
%
of
|
1Q
2006
|
YoY
|
1Q
2007
|
%
of
|
4Q
2006
|
QoQ
|
||||||||||||||||||||||||
|
|
|
USD
|
|
|
NTD
|
|
|
Sales
|
|
|
NTD
|
|
|
Chg
%
|
|
|
USD
|
NTD
|
Sales
|
NTD
|
Chg
%
|
|||||||||
Net
Sales
|
2,445
|
80,720
|
100.0
|
66,252
|
21.8
|
2,445
|
80,720
|
100.0
|
94,646
|
(14.7
|
)
|
||||||||||||||||||||
Cost
of Goods Sold
|
2,435
|
80,376
|
99.6
|
55,179
|
45.7
|
2,435
|
80,376
|
99.6
|
87,000
|
(7.6
|
)
|
||||||||||||||||||||
Gross
Profit
|
10
|
344
|
0.4
|
11,073
|
(96.9
|
)
|
10
|
344
|
0.4
|
7,646
|
(95.5
|
)
|
|||||||||||||||||||
Operating
Expenses
|
|||||||||||||||||||||||||||||||
SG&A
|
102
|
3,362
|
4.2
|
1,584
|
112.3
|
102
|
3,362
|
4.2
|
3,651
|
(7.9
|
)
|
||||||||||||||||||||
R&D
|
37
|
1,226
|
1.5
|
1,542
|
(20.5
|
)
|
37
|
1,226
|
1.5
|
1,168
|
5.0
|
||||||||||||||||||||
|
139
|
4,587
|
5.7
|
3,125
|
46.8
|
139
|
4,587
|
5.7
|
4,819
|
(4.8
|
)
|
||||||||||||||||||||
Operating
Income (Loss)
|
(129
|
)
|
(4,243
|
)
|
(5.3
|
)
|
7,948
|
-
|
(129
|
)
|
(4,243
|
)
|
(5.3
|
)
|
2,827
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Net
Non-Operating Expenses
|
(26
|
)
|
(842
|
)
|
(1.0
|
)
|
(694
|
)
|
21.4
|
(26
|
)
|
(842
|
)
|
(1.0
|
)
|
(914
|
)
|
(7.9
|
)
|
||||||||||||
|
|||||||||||||||||||||||||||||||
Income
(Loss) before Income Tax
|
(154
|
)
|
(5,085
|
)
|
(6.3
|
)
|
7,254
|
-
|
(154
|
)
|
(5,085
|
)
|
(6.3
|
)
|
1,913
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Income
Tax Expense
|
(1
|
)
|
(20
|
)
|
(0.0
|
)
|
(566
|
)
|
(96.5
|
)
|
(1
|
)
|
(20
|
)
|
(0.0
|
)
|
(263
|
)
|
(92.4
|
)
|
|||||||||||
Changes
in Accounting Principles
|
0
|
0
|
0.0
|
(39
|
)
|
-
|
0
|
0
|
0.0
|
0
|
-
|
||||||||||||||||||||
Minority
Interest in Net Loss (Income)
|
(0
|
)
|
(1
|
)
|
(0.0
|
)
|
0
|
-
|
(0
|
)
|
(1
|
)
|
(0.0
|
)
|
8
|
-
|
|||||||||||||||
Net
Income (Loss)
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
6,650
|
-
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
1,659
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Basic
Earnings Per Share
|
(0.02
|
)
|
(0.67
|
)
|
1.09
|
(0.02
|
)
|
(0.67
|
)
|
0.19
|
|||||||||||||||||||||
Basic
Earnings Per ADR(3)
|
(0.20
|
)
|
(6.74
|
)
|
10.91
|
(0.20
|
)
|
(6.74
|
)
|
1.86
|
|||||||||||||||||||||
Weighted
Average Number
|
7,574
|
6,094
|
7,574
|
6,467
|
|||||||||||||||||||||||||||
of
Shares Outstanding (Million)
|
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars
at the
exchange rate of NT$33.01 per USD as of March 31, 2007
(3)
1 ADR equals 10 common
shares
|
1Q
2007
|
1Q
2006
|
|||||||||
USD
|
NTD
|
NTD
|
||||||||
Cash Flows from Operating Activities: | ||||||||||
Net Income (Loss) | (155 | ) | (5,105 | ) | 6,650 | |||||
Depreciation & Amortization | 581 | 19,192 | 10,547 | |||||||
Provision for Inventory Devaluation | 43 | 1,435 | (374 | ) | ||||||
Investment Loss under Equity Method | 3 | 98 | 317 | |||||||
Disposal Gain on Long-term Investments | (0 | ) | (1 | ) | (37 | ) | ||||
Changes in Working Capital & Others | (35 | ) | (1,164 | ) | (3,997 | ) | ||||
Net
Cash Provided by Operating Activities
|
438 | 14,456 | 13,106 | |||||||
Cash Flows from Investing Activities: | ||||||||||
Increase in Short-term Investments | (4 | ) | (126 | ) | 0 | |||||
Acquisition of Property, Plant and Equipment | (791 | ) | (26,101 | ) | (18,669 | ) | ||||
Proceeds from Disposal of Property, Plant and Equipment | 0 | 0 | 14 | |||||||
Increase in Long-term Investments | (17 | ) | (566 | ) | 0 | |||||
Proceeds from Disposal of Long-term Investments | 0 | 5 | 102 | |||||||
Increase in Deferred Assets and Intangible Assets | (30 | ) | (981 | ) | (900 | ) | ||||
Decrease in Other Assets | 2 | 52 | 34 | |||||||
Net
Cash Used in Investing Activities
|
(840 | ) | (27,716 | ) | (19,420 | ) | ||||
Cash Flows from Financing Activities: | ||||||||||
Decrease in Short-term Borrowings | (71 | ) | (2,330 | ) | 0 | |||||
Decrease in Guarantee Deposits | (0 | ) | (2 | ) | 0 | |||||
Increase (Decrease) in Long-term Borrowings | (185 | ) | (6,119 | ) | 3,897 | |||||
Employee Stock Options Exercised | 0 | 15 | 0 | |||||||
Change in Minority Interest | 0 | 9 | 19 | |||||||
Net
Cash Provided by Financing Activities
|
(255 | ) | (8,428 | ) | 3,916 | |||||
Effect of Exchange Rate Change on Cash | (13 | ) | (440 | ) | 186 | |||||
Net Decrease in Cash and Cash Equivalents | (670 | ) | (22,128 | ) | (2,211 | ) | ||||
Cash and Cash Equivalents at Beginning of Period | 1,331 | 43,926 | 26,263 | |||||||
Cash and Cash Equivalents at End of Period | 660 | 21,797 | 24,052 |
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars at
the
exchange rate of NTD 33.01 per USD as of March 31,
2007
|
March
31, 2007
|
March
31, 2006
|
YoY
|
||||||||||||||||||||
ASSETS |
USD
|
NTD
|
%
|
NTD
|
%
|
Change
|
%
|
|||||||||||||||
Cash and Cash Equivalents | 590 | 19,462 | 3.7 | 22,098 | 6.8 | ( 2,636 | ) | (11.9 | ) | |||||||||||||
Available-for-Sale Financial Assets - Current | 52 | 1,716 | 0.3 | 1,855 | 0.6 | ( 138 | ) | (7.5 | ) | |||||||||||||
Notes & Accounts Receivables | 1,406 | 46,425 | 8.9 | 43,011 | 13.3 | 3,414 | 7.9 | |||||||||||||||
Inventories | 1,229 | 40,558 | 7.8 | 20,442 | 6.3 | 20,116 | 98.4 | |||||||||||||||
Other Current Financial Assets | 45 | 1,492 | 0.3 | 425 | 0.1 | 1,066 | 250.7 | |||||||||||||||
Other Current Assets | 171 | 5,631 | 1.1 | 4,402 | 1.4 | 1,229 | 27.9 | |||||||||||||||
Total Current Assets | 3,492 | 115,284 | 22.1 | 92,233 | 28.4 | 23,051 | 25.0 | |||||||||||||||
Long-term Investments | 751 | 24,775 | 4.8 | 11,815 | 3.6 | 12,959 | 109.7 | |||||||||||||||
Fixed Assets | 15,148 | 500,026 | 96.0 | 310,223 | 95.7 | 189,803 | 61.2 | |||||||||||||||
Less Accumulated Depreciation | ( 4,543 | ) | ( 149,950 | ) | (28.8 | ) | (97,830 | ) | (30.2 | ) | ( 52,121 | ) | 53.3 | |||||||||
Net Fixed Assets | 10,605 | 350,075 | 67.2 | 212,393 | 65.5 | 137,682 | 64.8 | |||||||||||||||
Other Assets | 931 | 30,723 | 5.9 | 7,876 | 2.4 | 22,847 | 290.1 | |||||||||||||||
Total Assets | 15,779 | 520,856 | 100.0 | 324,317 | 100.0 | 196,539 | 60.6 | |||||||||||||||
LIABILITIES | ||||||||||||||||||||||
Accounts Payable | 2,004 | 66,141 | 12.7 | 46,219 | 14.3 | 19,922 | 43.1 | |||||||||||||||
Current Installments of Long-term | 1,037 | 34,218 | 6.6 | 8,177 | 2.5 | 26,041 | 318.5 | |||||||||||||||
Current Financial Liabilities | 1 | 43 | 0.0 | 72 | 0.0 | ( 29 | ) | (39.9 | ) | |||||||||||||
Other Current Liabilities | 856 | 28,270 | 5.4 | 24,183 | 7.5 | 4,087 | 16.9 | |||||||||||||||
Total Current Liabilities | 3,898 | 128,672 | 24.7 | 78,651 | 24.3 | 50,021 | 63.6 | |||||||||||||||
Long-term Borrowings | 4,199 | 138,598 | 26.6 | 65,888 | 20.3 | 72,710 | 110.4 | |||||||||||||||
Bonds Payable | 833 | 27,491 | 5.3 | 17,000 | 5.2 | 10,491 | 61.7 | |||||||||||||||
Other Long-term Liabilities | 9 | 295 | 0.1 | 437 | 0.1 | (142 | ) | (32.4 | ) | |||||||||||||
Total Liabilities | 8,938 | 295,056 | 56.6 | 161,975 | 49.9 | 133,080 | 82.2 | |||||||||||||||
SHAREHOLDERS' EQUITY | ||||||||||||||||||||||
Common Stock | 2,294 | 75,738 | 14.5 | 58,305 | 18.0 | 17,432 | 29.9 | |||||||||||||||
Capital Surplus | 3,353 | 110,688 | 21.3 | 57,675 | 17.8 | 53,012 | 91.9 | |||||||||||||||
Retained Earnings | 1,178 | 38,886 | 7.5 | 46,323 | 14.3 | (7,437 | ) | (16.1 | ) | |||||||||||||
Cumulative Translation Adjustments | 17 | 548 | 0.1 | 43 | 0.0 | 505 | 1165.4 | |||||||||||||||
Unrealized Gain/Loss on Financial Products | (2 | ) | (57 | ) | 0.0 | (6 | ) | 0.0 | (51 | ) | 882.7 | |||||||||||
Deferred Compensation Cost | (0 | ) | (3 | ) | 0.0 | 0 | 0.0 | (3 | ) | – | ||||||||||||
Total Shareholders' Equity | 6,840 | 225,800 | 43.4 | 162,342 | 50.1 | 63,458 | 39.1 | |||||||||||||||
Total Liabilities & Shareholders' Equity | 15,779 | 520,856 | 100.0 | 324,317 | 100.0 | 196,539 | 60.6 |
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars at
the
exchange rate of NTD 33.01 per USD as of March 31,
2007
|
Year
over Year
Comparison
|
Sequential
Comparison
|
||||||||||||||||||||||||||||||
1Q
2007
|
%
of
|
1Q
2006
|
YoY
|
1Q
2007
|
%
of
|
4Q
2006
|
QoQ
|
||||||||||||||||||||||||
|
|
|
USD
|
|
|
NTD
|
|
|
Sales
|
|
|
NTD
|
|
|
Chg
%
|
|
|
USD
|
NTD
|
Sales
|
NTD
|
Chg
%
|
|||||||||
Net
Sales
|
2,445
|
80,694
|
100.0
|
66,241
|
21.8
|
2,445
|
80,694
|
100.0
|
94,601
|
(14.7
|
)
|
||||||||||||||||||||
Cost
of Goods Sold
|
2,457
|
81,091
|
100.5
|
55,439
|
46.3
|
2,457
|
81,091
|
100.5
|
87,701
|
(7.5
|
)
|
||||||||||||||||||||
Gross
Profit (Loss)
|
(12
|
)
|
(397
|
)
|
(0.5
|
)
|
10,802
|
-
|
(12
|
)
|
(397
|
)
|
(0.5
|
)
|
6,900
|
-
|
|||||||||||||||
Operating
Expenses
|
|||||||||||||||||||||||||||||||
SG&A
|
82
|
2,704
|
3.4
|
1,319
|
105.1
|
82
|
2,704
|
3.4
|
3,182
|
(15.0
|
)
|
||||||||||||||||||||
R&D
|
37
|
1,210
|
1.5
|
1,531
|
(21.0
|
)
|
37
|
1,210
|
1.5
|
1,160
|
4.4
|
||||||||||||||||||||
|
119
|
3,914
|
4.9
|
2,850
|
37.4
|
119
|
3,914
|
4.9
|
4,342
|
(9.9
|
)
|
||||||||||||||||||||
Operating
Income (Loss)
|
(131
|
)
|
(4,311
|
)
|
(5.3
|
)
|
7,952
|
-
|
(131
|
)
|
(4,311
|
)
|
(5.3
|
)
|
2,558
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Net
Non-Operating Expense
|
(24
|
)
|
(794
|
)
|
(1.0
|
)
|
(709
|
)
|
12.0
|
(24
|
)
|
(794
|
)
|
(1.0
|
)
|
(667
|
)
|
19.0
|
|||||||||||||
|
|||||||||||||||||||||||||||||||
Income
(Loss) before Income Tax
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
7,243
|
-
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
1,891
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Income
Tax Expense
|
0
|
0
|
0.0
|
(554
|
)
|
-
|
0
|
0
|
0.0
|
(232
|
)
|
-
|
|||||||||||||||||||
Changes
in Accounting Principles
|
0
|
0
|
0.0
|
(39
|
)
|
-
|
0
|
0
|
0.0
|
0
|
-
|
||||||||||||||||||||
Net
Income (Loss)
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
6,650
|
-
|
(155
|
)
|
(5,105
|
)
|
(6.3
|
)
|
1,659
|
-
|
|||||||||||||||
|
|||||||||||||||||||||||||||||||
Basic
Earnings Per Share
|
(0.02
|
)
|
(0.67
|
)
|
1.09
|
(0.02
|
)
|
(0.67
|
)
|
0.19
|
|||||||||||||||||||||
Basic
Earnings Per ADR(3)
|
(0.20
|
)
|
(6.74
|
)
|
10.91
|
(0.20
|
)
|
(6.74
|
)
|
1.86
|
|||||||||||||||||||||
Weighted
Average Number
|
|||||||||||||||||||||||||||||||
of
Shares Outstanding (Million)
|
7,574
|
6,094
|
7,574
|
6,467
|
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars at
the
exchange rate of NT$33.01 per USD as of March 31, 2007
(3)
1 ADR equals 10 common
shares
|
1Q
2007
|
1Q
2006
|
|||||||||
USD
|
NTD
|
NTD
|
||||||||
Cash Flows from Operating Activities: | ||||||||||
Net Income (Loss) | (155 | ) | (5,105 | ) | 6,650 | |||||
Depreciation & Amortization | 545 | 18,006 | 9,904 | |||||||
Provision for Inventory Devaluation | 37 | 1,215 | 267 | |||||||
Investment Loss under Equity Method | 6 | 197 | 355 | |||||||
Changes in Working Capital & Others | (23 | ) | (745 | ) | (4,638 | ) | ||||
Net Cash Provided by Operating Activities | 411 | 13,567 | 12,539 | |||||||
Cash Flows from Investing Activities: | ||||||||||
Acquisition of Property, Plant and Equipment | (748 | ) | (24,677 | ) | (17,858 | ) | ||||
Proceeds from Disposal of Property, Plant and Equipment | 0 | 0 | 14 | |||||||
Increase in Long-term Investments | (31 | ) | (1,021 | ) | (162 | ) | ||||
Increase in Deferred Assets and Intangible Assets | (30 | ) | (989 | ) | (908 | ) | ||||
Decrease in Other Assets | 1 | 49 | 34 | |||||||
Net Cash Used in Investing Activities | (807 | ) | (26,638 | ) | (18,880 | ) | ||||
Cash Flows from Financing Activities: | ||||||||||
Decrease in Guarantee Deposits | (0 | ) | (2 | ) | (0 | ) | ||||
Increase (Decrease) in Long-term Borrowings | (261 | ) | (8,621 | ) | 3,650 | |||||
Employee Stock Options Exercised | 0 | 15 | 0 | |||||||
Net Cash Provided by Financing Activities | (261 | ) | (8,609 | ) | 3,650 | |||||
Effect of Exchange Rate Change on Cash | 3 | 100 | 122 | |||||||
Net Decrease in Cash and Cash Equivalents | (654 | ) | (21,580 | ) | (2,570 | ) | ||||
Cash and Cash Equivalents at Beginning of Period | 1,243 | 41,042 | 24,667 | |||||||
Cash and Cash Equivalents at End of Period | 590 | 19,462 | 22,098 |
Note: |
(1)
Unaudited, prepared by AUO based on ROC
GAAP
|
(2)
Amounts in New Taiwan dollars were translated into US dollars at
the
exchange rate of NTD 33.01 per USD as of March 31,
2007
|