Largan Precision (3008) Q3 2024 earnings summary

Executive summary

• 3Q24/Q3 2023 net revenue was NT$18.95 billion, up 39% year-over-year.

• Net income for 3Q24/Q3 2023 reached NT$6.63 billion; for the first nine months, net income was NT$17.24 billion, up 33% year-over-year.

• EPS for 3Q24/Q3 2023 was NT$49.67, with nine-month EPS at NT$129.16.

• Gross margin for 3Q24/Q3 2023 was 50%, up from 43% in the prior year.

• For the first nine months, revenue was NT$41.25 billion, up 33% year-over-year.

Financial highlights

• Operating income for 1-3Q24 was NT$15.65 billion, up 58% year-over-year; Q3 2023 operating income was NT$7.80 billion, up 101%.

• Gross profit for 3Q24 was NT$9.52 billion; nine-month gross profit up 42% year-over-year.

• Cash and cash equivalents at September 30, 2023, were NT$96.73 billion.

• Total assets at 3Q24/September 30, 2023: NT$201.81 billion; equity: NT$174.28 billion/NT$167.29 billion.

• Total liabilities at 3Q24: NT$27.53 billion.

Segment performance

• 10MP lens shipments accounted for 60-70% of 3Q24 volume; 8MP lenses 20-30%; 20MP+ lenses 10-20%; others 0-10%.

• All operating segments' revenue and profit are consistent with consolidated financial statements.