Lite-On grows 19% in March

Benefiting from increased market demand for high-end networking equipment and server power management systems for cloud computing applications, mobile devices, and game consoles, Lite-On Technology Corp. (2301) posted consolidated March revenue of NT$18.28 billion for monthly growth of 19%. Shipments of camera modules and game console products grew 80% year-on-year.

Lite-On management stated Q1 of this year will be the company’s weakest quarter and revenue will increase every quarter beginning in Q2.

The consolidated revenue of worldwide Lite-On parent and subsidiary companies for March was NT$18.28 billion, growing 19% compared to February and 11% year-on-year. Driven by demand in the end-user market, all of Lite-On’s core businesses continue to grow. Consolidated revenue for Q1 was NT$51.39 billion, representing 11% year-on-year growth.

Beginning in March, sectors relevant to Lite-On showed signs of resurgence. Increased market demand for high-end networking equipment and server power management systems for cloud applications, mobile devices, and game consoles spurred monthly growth in the power supply business group of 20% in March and close to 10% year-on-year.

In terms of storage devices, Lite-On’s end user market growth and expansion of market share pushed growth of solid state drives (SSD) in March to over 30% year-on-year or 10% monthly. Year-on-year growth in game console product shipments increased exponentially.

LED components and lighting products benefited from growth in the lighting applications market with March revenue growing 20% compared with February.

Furthermore, growth in laser printer shipments drove multifunction printer revenue to grow 30% in March. Human input solutions, responsible for peripherals such as keyboards and peripherals, benefited from expansion of market share and growth in peripheral tablet keyboard applications to post 20% growth year-on-year.

Smooth delivery of high-end server chassis spurred 50% year-on-year growth in server chassis product revenue and led to 30% year-on-year growth in March for the entire core institution business group.