Chroma Ate Inc. · TWSE:2360
Chroma Ate — Q4 2011 Earnings Presentation
29 slides from Chroma Ate's earnings presentation, Feb 21, 2012
Slide 1: Chroma ATE Inc. 4Q 2011 Investor Conference
Your Testing Quality is Our Commitment. CHROMA ATE INC. 2012 4Q. 2011 Investor Conference Paul Ying, CFO Leo Huang, Chairman & CEO 21st February, 2012 1
Slide 2: Disclaimer
Disclaimer This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “plan”, “forecast”, “project”, “predict”, “potential”, “c
Slide 3: Agenda
Agenda • Corporate Profile • Quarterly Highlights • Financial Review • Operation Highlights • Q&A 3
Slide 4: Corporate Profile
CORPORATE PROFILE lest S [Autos ®Solution=: Sroviderss |
Slide 5: Corporate Profile
Corporate Profile Sales Revenues R&D Expenses • Founded in 1984, a world leading own brand R&D Expenses in % of Sales Revenues turnkey test & automation solution provider, 5,640 Parent Only 5,338 specialized in electronics test and measurement instruments and system. Products cover test and 14% meas
Slide 6: Financial Performance
Financial Performance Consolidated Sales Revenues EPS Net Profit Gross Margin Parent Only Sales Revenues Parent Only Operating Margin 1,812 59% 14,886 14,148 55% 54% 1,523 1,538 51% 52% 12,630 12,228 In Million NTD, Except EPS in NTD 10,914 5.22 5.05 * 1,105 In Million NTD 33% * 4.06 * 863 29% 3.38
Slide 7: Financial Performance: ROE and Dividend
Financial Performance ROE Dividend EPS Cash dividend Parent Only 26% Stock dividend 5.22 5.05 * 19% 20% 4.06 * 18% 3.80 3.60 3.38 * 14% In NTD 2.50 2.50 * 2.00 2.00 0.60 0.50 0.30 0.40 * 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 * 2007 ROE adjusted, according the payout of employee * 2008 –
Slide 8: Chroma Global Network
Chroma Global Network Global Employees1,578, Branch Offices x16, Distributors x58 US : Irvine / Hong Kong : Neworld Lake Forest CA. Europe : Netherlands / Finland Japan: Shin Yokohama China : Shenzhen / Dongguan / Xiamen / Suzhou Nanjing / Shanghai / Beijing / Chongqing 8
Slide 9: Product Mix
Product Mix A Turnkey Test and Automation Solution Provider Customized System 1.3% Customized System 1.6% Year 2010 Year 2011 * Services & Others included general services and government projects. 9
Slide 10: Quarterly Highlights / Financial Review
QUARTERLY HIGHLIGHTS FINANCIAL REVIEW 10
Slide 11: Quarterly Highlights
Quarterly Highlights Sales Revenues Gross Margin 4Q’ 2011 Key Points Operating Margin 1,752 • Sales Revenue: $ 891 million, 1,694 down 31% QoQ, down 27% YoY 1,500 1,465 58% 1,289 • Gross Margin: 53% 55% 54% 1,214 53% 53% 53% 1,174 • Operating Margin: 15% 53% 50% • Net Income: NT$ 173 million, In Mil
Slide 12: 4Q 2011 Income Statement (QoQ / YoY Comparison)
4Q’ 2011 Income Statement (QoQ / YoY Comparison) Parent Only 4Q’ 2011 % 3Q’ 2011 % QoQ 4Q’ 2010 % YoY (In Million NTD, except for EPS in NTD) % % Net Sales 891 100.0% 1,289 100.0% (31%) 1,214 100.0% (27%) Cost of Goods Sold (421) (47.3%) (602) (46.7%) (30%) (577) (47.5%) (27%) Gross Profit 470 52.7%
Slide 13: 2011 Income Statement (YoY Comparison)
2011 Income Statement ( YoY Comparison) Parent Only 2011 % 2010 % YoY (In Million NTD, % except for EPS in NTD) Net Sales 5,338 100.0% 5,640 100.0% (5%) Cost of Goods Sold (2,562) (48.0%) (2,544) (45.1%) 1% Gross Profit 2,776 52.0% 3,096 54.9% (10%) Operating Expenses: General & Administration (827)
Slide 14: 2011 Income Statement (Consolidated)
2011 Income Statement (Consolidated) Consolidated 2011 % 2010 % YoY (In Million NTD, except for EPS in NTD) % Net Sales 14,148 100.0% 14,886 100.0% (5%) Cost of Goods Sold (10,231) (72.3%) (10,614) (71.3%) (4%) Gross Profit 3,917 27.7% 4,272 28.7% (8%) Operating Expenses: General & Administration (1
Slide 15: Balance Sheet Highlights & Financial Ratio
Balance Sheet Highlights & Financial Ratio Parent Only (In Million NTD) 2011 2010 +/-% Balance Sheet Highlights Cash & Short Term Investment 654 665 - 2% Inventory 1,373 1,367 - Short Term Debt 50 200 - 75% Long Term Debt - - - Shareholders Equity 7,765 7,558 3% Total Assets 9,547 9,634 - Inventory
Slide 16: New Site – Taoyuan A7 Land Development
New Site – Taoyuan A7 Land Development Aim: Government Expropriation Location Project, designate to specific industries. Size: 222,300 Land Capital: NTD 10 billion Participants: 35% 35% 30% Usage: 60% Specific Incentive Industries, 20% Public facilities / Infrastructures, 20% Residential and Commerc
Slide 17: Operation Highlight
OPERATION HIGHLIGHT lest S [Autos ®Solution=: Sroviderss |
Slide 18: Sales Breakdown By Testing Solution
Sales Breakdown By Testing Solution (In Million NTD) A’ 2011 % A’ 2010 % YoY Power Electronics Testing 2,321 43.5% 2,199 39.0% 6% Component Testing 371 7.0% 416 7.4% (11%) LCD Panel / Video Testing 362 6.7% 641 11.3% (44%) IC Testing 485 9.0% 599 10.6% (19%) LED Testing 352 6.6% 369 6.5% (5%) Solar
Slide 19: Sales Breakdown By Industries
Sales Breakdown By Industries Innovation, Integration Capability, Market Penetration In million NTD / % of Sales $ 4,208 $ 4,158 $ 3,444 $ 5,640 $ 5,338 4% 5% 17% 31% 35% 47% 48% 40% 44% 45% * Clean Technology included solar, LED, battery cell formation and EV OEM business. 19
Slide 20: Year 2012 Guidance
Year 2012 Guidance Sales revenues are expected to contribute from Power, LED Solid State Lighting (SSL) and Semiconductor. Increasing sales contribution from US, Europe and Japan to reach 30%, and recognition from global top-tier customers. Enhance turnkey solution design capability to be well posit
Slide 21: Innovations in Broad Testing Solutions
Innovations in Broad Testing Solutions 21
Slide 22: Innovation in Power Electronics Test Solution
Innovation in Power Electronics Test Solution LED Power Driver ATS New Programmable AC & DC sources Program non-liner I-V curve with LED load simulator Full function test with more than 20 built-in test items Meet Energy Star & IEC test requirement High efficiency Multi-UUT test for production line
Slide 23: Innovation in LCM, Video & Color Test Solution
Innovation in LCM, Video & Color Test Solution 3D Optical Profiler New Patent Award 3D profile measurement function Modulated design Auto test measurement script for auto Multi-Functional 3D Optical Profiling System 1D Thickness measurement function New Patent 2D Defect detection function 3D Profile
Slide 24: Innovation in LED Lighting Test Solution (1/2)
Innovation in LED Lighting Test Solution (1/2) LED Lighting AC/DC Burn-in Test System New Patent Programmable AC source Multi-channels and individual measurement Real-time measurement Support more 250 x 7W LED bulbs Light-Decay (Lifetime) AC/DC Test System New Patent Multi-channels and individual me
Slide 25: Innovation in LED Lighting Test Solution (2/2)
Innovation in LED Lighting Test Solution (2/2) LED Luminaire In-Line Test System New Patent High speed test and flicker measurement (@1 second per measurement) Standard light source Low error rate Turnkey In-Line Light Bulb/Tube Test & Automation New Performance Vs. Integrating Sphere • 5 Times high
Slide 26: Innovation in Electric Vehicle Test Solution
Innovation in Electric Vehicle Test Solution EVSE (Electric Vehicle Supply Equipment) ATS New Applicable for AC level 1 & AC level 2 EVSE Flexible hardware & software architecture Meets SAE J1772 requirement Credibility: Used by Taiwan Bureau of Standards, Metrology and Inspection 26
Slide 27: Innovation in Battery Cell/Pack Test Solution
Innovation in Battery Cell/Pack Test Solution Battery Cell Reliability Test System New Charge/Discharge mode High sampling rate High voltage/current accuracy Parallelable channel design Fully independent channel testing Redundant DC source design Regenerative Battery Pack Test System New Patent Maxi
Slide 28: Innovation in Thermoelectric Test Solution
Innovation in Thermoelectric Test Solution TEC Controller New Range: -50 to 150 0.01 resolution and 0.3 absolute accuracy Bidirectional driving with >90% driving power efficiency Thermal Data Logger 1/8 /64 channels on-line data recording New Temperature resolution up to 0.01 Full protection Heat Pi
Slide 29: Thank You
www.chromaate.com The World for You & for Me… Thank You! 29