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I-Chiun Precision Industry, a maker of lead frames used in LED packaging, recorded continued net operating loss of NT$42.4 million (US$1.4 million) for third-quarter 2017 mainly arising from price competition for SMD lead frames in the China market, the company has disclosed.
The worsening price competition has prompted I-Chiun to stop SMD lead frame production and shift capacity to lamp and photo coupler lead frames at its factory in Kunshan, eastern China, the company said at a November 8 investors conference.
I-Chiun posted consolidated revenues of NT$1.051 billion, gross margin of 7.14%, net loss of NT$34.0 million and net loss per share of NT$0.20 for the third quarter. For January-September, I-Chiun recorded consolidated revenues of NT$3.143 billion, gross margin of 9.17%, net operating loss of NT$70.7 million, net loss of NT$107.5 million and net loss per share of NT$0.58.
The China market accounted for 62.77% of the third-quarter consolidated revenues, Taiwan 25.28%, South Korea 4.59% and Thailand 4.72%. Of the product lines, lamp lead frames accounted for 30.12% of the revenues, SMD lead frames 28.90%, TV light bars 25.79%, ceramic circuit boards produced by its subsidiary Ecocera Optronics 1.58%.
I-Chiun holds a 76.63% stake in Ecocera, which produces ceramic circuit boards for LED lighting products and flashes of smartphones.
I-Chiun’s consolidated revenues reached NT$331.7 million in October, declining 8.92% sequentially and 10.06% on year, and those of NT$3.473 billion for January-October dipped 15.75% on year.
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