Board meeting of Walsin Lihwa approves 2010 financial statements EPS of NT$1.55 and cash dividend of NT$0.42011.03.16
Taipei, March 16, 2011 — Today Walsin Lihwa held a board meeting, which approved the company’s 2010 financial statements audited by CPA. The net income after tax amounts to approx. NT$4.777 billion with EPS of NT$1.55, and a cash dividend of NT$0.4 per share is planned. The board meeting also decided to hold the annual shareholders’ meeting at 9:00 am on June 17 (Fri), at Ballroom, Grand Victoria Hotel Taipei.
Because of an ongoing economy recovery last year boosting copper and nickel prices, sales of Walsin Lihwa copper and stainless steel products reached a new high while the company also benefited from considerably increased non-operating incomes. As a result, the 2010 revenue and earning are significantly higher than 2009. The stand-alone operating revenue, is NT$78.746 billion, approx. 28% higher than 2009. The consolidated operating revenue of NT$190.152 billion is 43% higher. The stand-alone gross profit is NT$5.318 billion with the consolidated gross profit of NT$8.657 billion. The stand-alone income from operations is NT$3.237 billion with the consolidated income from operations of NT$3.545 billion. The net income after tax is NT$4.777 billion with EPS of NT$1.55.
The board meeting also passed two motions: 1) Increase the capital of Dongguan Walsin Lihwa Wire & Cable Co. by US$20 million to increase its working capital and strengthen its financial structure, and 2) transfer Walsin Lihwa Holdings’ ownership of Xian Walsin United Technology Co., LTD. to Market Pilot Limited for investment structure improvement, and have Walsin Lihwa Holdings increase the capital of Market Pilot Limited by US$100 million, of which US$52 million will be the equity transfer price and the other US$48 million will be used for loan payoff.
Established in 1966, Walsin Lihwa is committed to the manufacture and R&D of copper cables and wires, power cable and wires, and specialty steel products. The company is a leader of power cable and wires as well as specialty steel products in the Greater China market.