AU Optronics Corp (ADR) (NYSE:AUO) To End 2014 with Stellar Performance, 52-Week High


Dallas, Texas 12/26/2014 (FINANCIALSTRENDS) – AU Optronics Corp (ADR) (NYSE:AUO) reported strong third quarter results with a record net profit of NT$7.3 billion, highest in almost last 17-quarters. The company’s revenue performance in October also increased 9.1% compared to prior year period.

While the stock has gained more than 80% through the trailing twelve months, analysts calculate that its growth is not truly represented in the current stock price. In a pre-Christmas trading, the stock hit a 52-week high of $5.47 before closing at $5.42. The stock also traded with significant volume of 1.52 million shares compared to its average trading volume of 840,937 shares.

Monthly Performance Update

AU Optronics Corp (ADR) (NYSE:AUO) could not sustained its strong October sales performance through November, which decreased 6% MoM to NT$34.77 billion from NT$36.99 billion. The company reported 6.1% MoM decline in shipments of large-sized panels during November 2014 to approximately 9.71 million units compared to 10.34 million units in October. Shipments of small-and-medium-sized panels declined 17.3% MoM during November to 13.48 million units compared to 16.30 million units in October.

Overall Performance Update

AU Optronics Corp (ADR) (NYSE:AUO) reported 2.2% QoQ increase in shipments of large-sized panels during 3Q14 to 29.48 million units. Shipments of small-and-medium-sized panels increased 4.2% QoQ during 3Q14 to 48.23 million units.

The company reported approximately 2.2% decline in year-to-date net sales (January to November 2014) to NT$374.5 billion compared to NT$383.0 billion in the same prior year period.

For nine months ended September 30, 2014, the company reported net profit of NT$11.49 billion or NT$1.21 per basic share.

AU Optronics operates in the Electronic-Miscellaneous Components industry. The stock has seen significant estimates rise over the past month. Investment analysts at Zacks Equity Research believe that expected earnings growth for 2014 is significantly higher than in 2013 and would eventually reflect into price appreciation.

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