08.08.2001
Amtran LCD shipment increases in July

• Development: Amtran reported July sales of NT$656m, a decline of 18% MoM and 25% YoY. Sales in the first seven months rose 7.6% YoY to NT$5.1bn.

• Analysis: The decline was likely caused by poor CRT monitor shipment. LCD monitor shipment jumped to 54k units in July, up from 45k units achieved in June. A 20k unit LCD monitor shipment for Apple (excluding panel cost) resulted in limited contributions to sales growth due to billing only for assembly and component costs.

• Primasia View: We expect profit to remain flat MoM as margins will likely improve due to a higher margin contribution from LCD’s. Monthly revenue should pick up from Aug, due to seasonal factors and new LCD monitor orders from Japanese customers.