Walsin Lihwa Announced 2008 Financial Results2009.03.30
Walsin Lihwa Corporation held board meeting today (March 30) approved 2008 financial report. The board also decided the convention of 2009 shareholder meeting to be at 9 a.m., Friday, June 19, at the Grand Victoria Hotel.
The stand-alone operating revenue of year 2008 has reached NT$ 72.79 billion, and the consolidated operating revenue has reached to NT$ 157.18 billion. The 2008 stand-alone gross profit has reached NT$ 0.81 billion, and the consolidated gross profit came to NT$ 2.67 billion. The stand-alone operating loss was NT$ 0.36 billion, and the consolidated operating loss was NT$ 1.23 billion.
Due to international raw material price declined sharply in the 4th quarter of 2008, the company and subsidiaries encountered the inventory obsolescence provision of NT$ 2 billion, the commodity future unrealized and realized loss for hedging purpose of NT$ 1.9 billion, and equity in loss of affiliates of NT$ 2 billion. Net loss after tax has totaled NT$ 5 billion, loss per share was NT$ 1.57.
Walsin Lihwa Corporation established in 1966, has been the leading manufacturer for copper, power cables, communication wires and specialty steel.