Lite-On Technology reports net profit fell 4 percent in Q3SILVER LINING: With the COVID-19 pandemic likely to drag into next year, so would demand for work-from-home devices, Lite-On’s president saidBy Angelica Oung / Staff reporterElectronic components supplier Lite-On Technology Corp (光寶科技) yesterday reported that net profit last quarter fell 4 percent year-on-year to NT$2.99 billion (US$103.37 million), from NT$3.11 billion in the same period last year. On a quarterly basis, net profit contracted 13 percent from NT$3.45 billion, or EPS of NT$1.48, in the second quarter. The logo of Lite-On Technology Corp is pictured at the company’s headquarters in Taipei on May 9. “As Lite-On sheds underperforming departments, we expect gross margin and operating profit margin to keep improving in the fourth quarter on a year-on-year basis,” Chiu said. Cumulative net profit for the first three quarters was NT$8.01 billion, a 15 percent increase year-on-year.

Source: Taipei Times October 30, 2020 15:56 UTC