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HannStar Display profit plunges as prices plummet

HannStar Display Corp (瀚宇彩晶), which makes flat panels used in handsets and PCs, yesterday reported a 50.35 percent sequential decline in net profit for last quarter, as prices plunged 73 percent quarterly on slumping market demand.
Net profit dipped to NT$1.36 billion (US$48.8 million) during the quarter ending Sept. 30, compared with NT$2.74 billion in the second quarter.
Earnings per share plunged to NT$0.45 last quarter from NT$0.91 in the previous quarter.
On an annual basis, net income fell 17 percent from NT$1.64 billion, or NT$0.52 per share.
<strong>PROFITABILITY</strong>
Gross margin contracted to 25.94 percent last quarter, from 47 percent in the previous quarter, ....

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