Chunghwa Picture Tubes (CPT) saw its performance swing back to the negative territory in the first quarter of 2018 with a pre-tax loss of NT$1.758 billion (US$59.095 million).
EPS for the first quarter was minus NT$0.16 compared to an EPS of NT$0.46 for all of 2017.
The company attributed the losses to a steep drop of its revenues in the first quarter, in which its sales fell over 20% sequentially to NT$6.84 billion due to seasonal factors and decreased prices of handset panels.
Operating margin also was negative 0.88% in the first quarter as its subsidiary in China was still operating below full capacity, the company explained.
Looking into the second quarter, the company expects both of its revenues and earnings to improve through an optimization of its product mix, as the ratios of 18:9 all-screen displays and automotive-use panels to overall shipments will be boosted.
Automotive-use panels will be the focus of shipments starting the second quarter with plans to ship a total of 14 million units in 2018, the company estimated.