Sercomm Corp. · TWSE:5388
Sercomm — Q2 2007 Earnings Presentation
14 slides from Sercomm's earnings presentation, Aug 16, 2007
Slide 1: SerComm Corporation 2Q'07 Investor Conference
SerComm Corporation 2Q’07 Investor Conference August 16th, 2007
Slide 2: Agenda
Agenda - Welcome and Introduction - 2Q’07 & 1H’07 Financial Results - Business Update - Q&A
Slide 3: Safe Harbor Notice
Safe Harbor Notice The following presentation may contain forward-looking statements regarding, among other things, our financial condition, future expansion plans and business strategies based on our current expectations and projections about future events. Although we believe that these expectatio
Slide 4: 2Q07 Income Statement
2Q07 Income Statement Consolidated 2007 2006 NT$ Million Q2 % Q2 % Change Net Sales 2,742 100.0% 2,295 100.0% 19.5% Gross Profit 424 15.5% 307 13.4% 38.1% Operating Expenses 216 7.9% 183 8.0% 18.0% Operating Profit 208 7.6% 124 5.4% 67.7% Non-operating Income 19 0.7% 9 0.4% 111.1% Non-operating Expe
Slide 5: 2Q07 Income Statement
2Q07 Income Statement Consolidated 2007 2007 NT$ Million Q2 % Q1 % Change Net Sales 2,742 100.0% 2,438 100.0% 12.5% Gross Profit 424 15.5% 342 14.0% 24.0% Operating Expenses 216 7.9% 193 7.9% 11.9% Operating Profit 208 7.6% 149 6.1% 39.6% Non-operating Income 19 0.7% 7 0.3% 171.4% Non-operating Expe
Slide 6: 1H07 Income Statement
1H07 Income Statement Consolidated 2007 2006 (In NT$MN) 1H % 1H % Change Net Revenue 5,180 100.0% 3,647 100.0% 42.0% Cost of Goods Sold 4,414 85.2% 3,182 87.2% 38.7% Gross Profit 766 14.8% 465 12.8% 64.7% Operating expenses 409 7.9% 325 8.9% 25.8% Operating Profit 357 6.9% 140 3.8% 155.0% Non-operat
Slide 7: Historic Quarterly Sales
Historic Quarterly Sales Unit:NT$ Billion 2.74 2.69 2.8 2.44 2.29 1.51 1.55 1.35 1.32 1.27 1.23 1.26 1.31 1.24 1.19 1.05 0.81 0.71 ‘03 ’04 ’05 ’06 ’07 ‘03 ’04 ’05 ’06 ’07 ‘03 ’04 ’05 ’06 ‘03 ’04 ’05 ’06 Q1 Q2 Q3 Q4
Slide 8: Revenue Breakdown by Product
Revenue Breakdown Year 2006 by Product Adapter Other 10% HR 28% 1H 2007 5% BR 7% Triple-Play Adapter PS 7% Other 18% 8% HG 43% 4% Business Router Home 10% Router Print 16% Server 6% Home Gateway 38%
Slide 9: Revenue Breakdown by Geography
Revenue Breakdown by Geography Year 2006 Asia ex- Taiwan North 4% 1H 2007 America 46% Taiwan 2% North Asia ex- America Taiwan Taiwan Europe 37% 3% 4% 48% Europe 56%
Slide 10: Balance Sheet
Balance Sheet Consolidated June 30, 2007 December 31, 2006 NT$ Million Amount % Amount % Cash Equivalents 949 20% 887 18% A/R 1,283 27% 1,379 28% Inventory 959 20% 1,204 24% Fixed Assets 1,480 31% 1,137 23% Longterm Investment 48 1% 55 1% Total Assets 4,719 100% 5,008 100% Loan 0 0% 277 6% A/P 2,029
Slide 11: Consolidated Cash Flow
Consolidated Cash Flow NT$Million June 30, 2007 June 30, 2006 -Net profit 265 177 -Depreciation & Amortization 84 72 -Other Op Sources/(Uses) 55 (81) From Operation 404 108 -L-T Investment 0 0 -Fixed Assets (37) (104) -Other Investing Sources/(Uses) (24) (20) From Investment (61) (124) -Cash Dividen
Slide 12: Business Update
Business Update Better product mix has contributed to gross margin improvement in 1H’07 Increasing sales of business router with market share gain in SMB market Growing demand of integrated products from European service provider market - Triple-play products (data, voice and video) with rich
Slide 13: Business Update
Business Update Print Server - Solid market leading position with design wins from all major printer makers - Over 400k units shipped in 1H’07 IP Surveillance - Design wins from global leading networking companies - H.264 IP Camera to be launched in 2H’07 Manufacturing capacity remains tight a
Slide 14: Q&A
Q&A q {- = Cc O/TIN www.sercomm.com Embedded Server Provider