LandMark Optoelectronics (3081) Q2 2024 earnings summary

Executive summary

• For the six months ended June 30, 2024, operating revenue was NT$596.6 million, up 2.8% year-over-year, but the net loss widened to NT$70.7 million from NT$71.0 million in the prior year.

• Gross margin for the period was 10%, down from 16% year-over-year, reflecting higher operating costs and increased provision for inventory obsolescence.

• The company remains focused on wafer manufacturing, with Mainland China as its largest market, accounting for 73% of revenue.

Financial highlights

• Operating revenue for H1 2024: NT$596.6 million (H1 2023: NT$580.2 million).

• Net loss for H1 2024: NT$70.7 million (H1 2023: NT$71.0 million).

• Gross profit for H1 2024: NT$59.7 million (H1 2023: NT$94.5 million).

• Basic and diluted EPS for H1 2024: NT$(0.77) (H1 2023: NT$(0.78)).

• Cash and cash equivalents at June 30, 2024: NT$531.3 million (June 30, 2023: NT$916.8 million).

Outlook and guidance

• The company adopted new IFRS amendments in 2024 with no significant impact and is evaluating IFRS 18 for future adoption.

• No explicit forward-looking guidance provided; capital management strategy remains unchanged.