Radiant Posts Net Profits of NT$322 M. for Q1, 2008

Taipei, May 2, 2008 (CENS)--Despite a loss of NT$210 million due to foreign exchange, Radiant Optoelectronics Corp., a Taiwan-based supplier of flat panel backlights, reported net profits of NT$322 million, or NT$0.84 per share, and combined revenue of NT$8.966 billion for the first quarter of this year, up 14.55% and 41%, respectively, from year earlier, according to company sources.

Radiant has procured 15 high-speed injection mold machines since the second half of last year, in an attempt to challenge 500,000 LED (light emitting diode) backlights for notebook PCs in its single-month shipment in the second half, and 3.5 million units for entire the year.

Wang Pen-jan, chairman of Radiant, said that after introducing the newly added production equipment and related technology, his company is expected to see promising performance in the second half of this year, likely to receive orders from Korea's Samsung and LG, and Taiwan's AU Optronics Corp., Chi Mei Optoelectronics Corp. and Chunghwa Picture Tubes Co., Ltd.

Wang said that continued operating losses are making Korean makers in the sector realize that price-cutting competition will most likely undermine supply chains in the industry. Besides, foreign exchange-induced losses have pushed some of them into the red. Thus, such situations may offset price drops of backlights in the second quarter of this year, Wang believes.

Radiant projects its shipment of backlight modules for notebook PCs to challenge 33 million units, models for monitors to hit 40 million units, and those for TVs to grow to 4 million units from 2.11 million units this year from last year. Besides, the firm's shipment of backlights for small- and medium-sized display panels is expected to reach 800,000 units in the second half of this year.