Chi Mei Optoelectronics Sees 5.7% MoM Revenue Growth in Jan.

Taipei, March. 3, 2009 (CENS)--Chi Mei Optoelectronics Corp. (CMO), the No. 2 thin film transistor-liquid crystal display (TFT-LCD) panel manufacturer in Taiwan, registered consolidated revenue of NT$11.2 billion (US$329.4 million at US$1: NT$34) in January, up 5.7% from the previous month but still a 60% year-on-year (YoY) decrease.

AU Optronics Corp. (AUO), the largest TFT-LCD manufacturer in Taiwan, however, had revenue of NT$13.2 billion (US$388.2 billion), a 10% month-on-month (MoM) decrease, a over-70% YoY decline, and the lowest monthly record since February 2005.

CMO attributed its MoM revenue increase to increased shipments of monitor panels, but mostly to the big-ticket orders from mainland China's home-appliance makers. CMO said that in January it shipped about 3.41 million large-sized (over-10-inch) panels, up 9.5% from December 2008, and 5.61 million small/medium-sized panels, a 75.4% MoM growth.

Industry sources said that some urgent orders flowed to CMO in January due to low inventory level in assembled monitors.

AUO's revenue-decline rate was lower than most expectations. The company shipped 3.23 million large-sized panels, a 23.5% MoM drop, and over 9.63 million small/medium-sized panels, a 2.2% MoM slide.

Some foreign institutional investors said that TFT-LCD panel prices are only rebounding to cash-cost levels now, while panel suppliers are expected to continue suffering declining revenues in the first quarter.