Taiwan LED package company Everlight consolidated revenue for October reached NT $2.24 billion (US $ 76 million), a drop of 7.22 percent from September but an increase of 31.26 compared to October last year. Due to 2Q merger and acquisition of German light fixture manufacturer WOFI, September amount recognized reached a peak causing October to drop slightly leading to a slide in revenue from September to October.
Everlight’s LED lighting business has begun to pick up in 3Q13 with Taiwanese street lighting bids starting from the second half of the year. In addition, the company has begun to receive revenue contributions from newly acquired subsidiary WOFI. LED lighting revenue continues to encompass more of the company’s revenue than backlight, growing from 10 percent last year to 25 percent. Revenue breakdown also includes 30 percent from SMD components, 25 percent infrared ray, and 5 percent other.
Although 4Q is traditionally a slack period for LEDs, overall utilization rate remains at 85 percent with one month order visibility. It is estimated that the company’s backlight business performance will maintain stability similar to 1Q. Only NT $100-200 million of streetlight recognized revenue has not been recognized yet. Subsidiary WOFI shipments have already entered into the slack period. The company anticipates 4Q revenue to drop single digits from 3Q.