E INK HOLDINGS ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2010 RESULTS
HSINCHU, Taiwan, Feb 15, 2011 – E Ink Holdings (8069.TW) today announced financial results for its fourth quarter ended December 31, 2010.
Its fourth-quarter consolidated sales hit a record high of NT$9.7 billion, up 84% Quarter- over-Quarter and 96% Year-over-Year, while posting a net income after tax of NT$1.9 billion with EPS of NT$1.8. The impact due to changes in foreign exchange rates was minimum.
Its 2010 full-year consolidated sales also hit a record high of NT$25.2 billion, up 57% YoY, with a historical high net income after tax of NT$4.0 billion. Turning around from the loss during fiscal year 2009, E Ink reported an EPS of NT$3.81, thanks to the fast-growing product demand, continuous R&D, and well executed cross-group synergy.
"In 2010 we achieved several key milestones," said Dr. Scott Liu, Chairman, E Ink Holdings, Inc. "We tripled the number of ePaper displays as shipped in 2009 for the eReader market alone, launched two new ePaper display platforms, E Ink Pearl™ and E Ink Triton™ and we have had strong demand from the Tablet PC market for our FFS technology-based LCD products."
- In July 2010, E Ink announced their next generation display technology, E Ink Pearl™, which features the whitest reflective display in the industry with a contrast ratio approximately 50 percent greater than previous products. This display platform is widely used in the eReader market in products including the Amazon Kindle and Sony Reader.
- In November 2010, E Ink announced the launch of their first commercially available color product, E Ink Triton™, which features 16 levels of grayscale, and is capable of displaying thousands of colors. Hanvon, a leading eReader firm in China, has announced a color eReader product using E Ink Triton.
- In December 2010, E Ink's Pearl™ display won the Best Commercialization Award at the fourth annual IDTechEx Printed Electronics Awards.
- Also in December 2010, E Ink's Pearl™ display won Popular Science's annual Best of What's New awards for 2010.
- In 2010, E Ink won MIT's Technology Review TR50 award for Public Materials Companies.
- In February 2011, E Ink won the FLEXI award for 2010 from FlexTech Alliance for its global innovation of electrophoretic displays in the flexible display industry.
- In 2010 Hydis' FFS-applied LCDs led the company to its current market standing as a display leader in the Tablet PC industry.
- In 2010 E Ink significantly increased resources in research and development and manufacturing in the USA as well as in Korea and China.
About E Ink Holdings
Founded in 1992 by Taiwan's leading papermaking and printing group YFY (1907.TW), E Ink Holdings Inc. "E Ink" (8069.TW) is the pioneer TFT and ePaper business in Taiwan. Its corporate philosophy aims to deliver revolutionary products, user experiences, and environmental benefits through advanced technology development. This vision has led to its continuous investments in the field of ePaper display as well as its 2008 acquisition of Hydis Technologies, manufacturer of the world's best wide viewing angle LCDs and its 2009 acquisition of E Ink Corp., the worldwide leader in ePaper. Listed in Taiwan's OTC market and the Luxembourg market, E Ink is now the world's largest supplier of displays to the eBook market.
Any Forward-looking statements in this document are inherently difficult to predict. Actual results could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that E Ink Holdings invests in new business opportunities and the timing of those investments, the mix of products sold to customers, the mix of net sales derived from products, the extent to which we owe income taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of legal proceedings and claims, factory optimization, risks of inventory management, seasonality, the degree to which the Company enters into, maintains and develops commercial agreements, acquisitions and strategic transactions, and risks of product throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services and technologies, system interruptions, government regulation and taxation, payments and fraud. In addition, the current global economic climate amplifies many of these risks. More information about factors that potentially could affect E Ink Holdings' financial results is included in E Ink Holdings' filings with the regulatory agencies.
E Ink Holdings Inc.
Jennifer Y. Su
Tel: +886-3-5798599 ext.1551