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AU Optronics's loss

AU Optronics's loss

AU Optronics Corp., Taiwan's largest maker of liquid-crystal displays, posted an unexpected loss for the fourth quarter after the company set aside provisions for possible antitrust penalties.
The fourth-quarter net loss was NT$7.85 billion (US$246 million), compared with a loss of NT$26.6 billion a year earlier, the Hsinchu, Taiwan-based company said in a statement on its Web site yesterday. AU Optronics was projected to post a profit of NT$3.5 billion, according to the median of 15 analyst estimates compiled by Bloomberg.
AU Optronic's non-operating expenses in the quarter almost tripled from a year earlier after the company said it set aside legal expenses for antitrust matters, without giving a figure for the costs. The company may write off US$250 million to US$300 million for anticipated penalties in price fixing probes including one brought by the U.S. Justice Department, said Yuanta Financial Holding Co. analyst Dale Gai.
AU Optronic's shares rose 3.7 percent to close at NT$38 in Taipei trading before the company's earnings announcement. The stock has fallen 2.1 percent this year, compared with a 6 percent drop for the Taiex Index.


Updated : 2021-03-08 01:38 GMT+08:00