High Demand for Mini LED Backlight and Invisible LED Products Drives Everlight Revenue in Q2, Despite an Off-Peak Season

The tight supply of optocouplers and increased prices of LED-backlit monitors have driven Everlight’s revenue in May, reaching NT$2.275 billion (US$81.4 million), a 10% monthly increase, 18.19% YoY growth, and a record high since January 2018. The optoelectronics company has monthly earned more than NT$2 billion for three consecutive months. Accordingly, institutional investors estimate earnings per share of NT$1 in Q2 and those of NT$2 in 1H21.

is dedicated to developing niche applications of LEDs, including automotive lighting solutions, invisible LEDs, power management, and IoT LEDs. The percentage of invisible LED product sales has increased over the years. The company’s revenue in Q1, despite being an off-peak period, reached NT$5.886 billion (US$21 million), with a quarterly growth of 4.9% and annual growth of 29%. The gross margin rose to 26%, which is 2.99 percent more than last quarter and 3.8 percent more than last year during the same time. Specifically, the company reported a net income after taxes of NT$458 million (US$16.3 million), a quarterly growth of 42%, and earnings per share of NT$1.03.

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Demand has remained high for invisible LED products, of which the sales accounted for consistently 35% in Q2. Because of increases in the price of LED-backlit monitors, Everlight’s backlight-related revenue is expected to climb from 19% to 22%. Further, the company has made progress on Mini LEDs with new applications of notebooks and monitors in addition to those of TVs, pushing the percentage of Mini LED sales from 2% to 4%.

Thanks to its optimized product portfolios, Everlight stunningly generated NT$ 2.066 billion (US$73.9 million) in April and NT$ 2.275 billion (US$81.4 million) in May during the off-peak Q2, with an annual growth of 6.78% and 18.19%, respectively. The Q2 sales are likely to be maintained compared with Q1 sales, resulting in earnings per share of NT$1 for two consecutive quarters. (Source: Latest News by Wealth Magazine)

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