Touch panel maker Young Fast Optoelectronics (YFO) has reported consolidated revenues of NT$196.6 million (US$6.9 million) for March, the highest monthly level since May 2015 with growth of 93.98% sequentially and 27.29% year-on-year.
For first-quarter 2022, consolidated revenues reached NT$376.0 million, increasing 1.71% sequentially and 11.50% year-on-year.
YFO said it has also stepped into producing electrical cable connectors for state-run Taiwan Power Company (Taipower).
YFO posted consolidated revenues of NT$1.449 billion, gross margin of 19.43%, operating profit of NT$54.1 million, net profit of NT$279.4 million and net EPS of NT$1.85 for 2021.
In 2021, the touch panel business suffered operating loss of NT$140 million while that for electrical cable connectors recorded operating profit of NT$194 million, YFO noted.
Since monthly sales of NT$70-80 million are a monthly break-even point for the touch panel product line, the business turned profitable in March with revenues of NT$121 million, YFO indicated.
Wearable devices and sports equipment accounted for 50% of 2021 revenues of NT$885 from touch panels; POS and medical devices for 33%; smartphones and tablets for 15%; and automotive and industrial displays for 2%. For automotive touch displays, YFO said it has finished certification for many models and has begun or will start production in 2022.
For electrical cable connectors, YFO said it expects stable orders from Taipower in 2022 but the pandemic and Russia's invasion of Ukraine have pushed up costs for copper and other materials.
YFO has set aside a capex budget of NT$30-40 million for 2022, with NT$15-25 million for touch panels and NT$15 million tfor expanding production capacity for electrical cable connectors by 150%.
