Chunghwa Picture Tubes (CPT) reported Q1’09 earnings and the results are not pretty. CPT’s unconsolidated revenues declined 41.7% Q/Q and 75.7% Y/Y to NT$9.8 billion (about US$297 million). Net losses were NT$11.13 billion. TFT LCD-related revenues decreased 42.8% Q/Q and 77.9% Y/Y to NT$8 billion. Large-size LCD panel shipments were also down, by 12% Q/Q, to 3.07 million units.
Small/medium-sized LCD panel revenues were down 59.1% Q/Q to NT$1.58 billion. Shipments declined too by 41.4% Q/Q to 15.89 million units. Gross margins for TFT LCD panels were -89.6% in Q1’09 worsening from a rather terrible -47.8% in Q4’08.
Notebook Focus LCD panel shipments for LCD monitor applications were 62% of overall large-size LCD shipments in Q1’09; notebook PC took 32% and TV was 6%. Compared to Q4’08 CPT concentrated heavily on manufacturing LCD panels for notebook PC applications.