CPT Narrows Q3 Loss

Chunghwa Picture Tubes (CPT) reported a 13.7% increase in revenue in October from the previous month at NT$4.9 billion ($160.2 million), though this was 2.5% down on October 2013. The company’s cumulative sales from January to October reached NT$46.9 billion ($1.5 billion), down 2.8% year on year. CPT’s October shipments of small and medium panels totaled 43.4 million units, up 18.6% MoM and 1.9% YoY, while large panel shipments fell 14.1% MoM and 29.3% YoY to 116,000 panels.

CPT has also released its third quarter results, narrowing its net loss from Q2 to NT$1.6 billion ($52.3 million) on turnover of NT$13.1 billion ($428.4 million). CPT blamed the loss on weaker-than-expected demand for 4G smartphones in China and strong competition from other manufacturers for small and medium panels. Year to date, CPT recorded a net loss of NT$1.5 billion ($49 million) on turnover of NT$42 billion ($1.4 billion).