Lite-On Technology May Revenue Hits NT$17.35 Billion, Up 30% YoY, a 7.5-Year High

Lite-On Technology today announced its May revenue of NT$17.353 billion, a month-on-month increase of 3.94% and a year-on-year increase of 29.56%, setting a new 7.5-year high since November 2018. Cumulative revenue for the first five months of this year reached NT$77.456 billion, up 22.52% year-on-year.

Lite-On stated that the record-high May revenue was primarily driven by sustained strong demand for power management systems, including high-end server power supplies for AI and cloud computing, and high-efficiency backup battery systems (BBU).

Looking at the performance of each business segment in May, the Cloud and IoT department accounted for 56% of total revenue. Shipments of power management systems for AI, cloud computing, high-end servers, and networking were particularly robust, driving the segment's revenue to grow over 80% year-on-year.

Additionally, the Optoelectronics department contributed 15% of May revenue, with stable growth in demand for AI server power management systems and miniaturized indicator lights used in AI servers and switches. The Information and Consumer Electronics department accounted for 29% of May revenue, benefiting from optimized product mix, diversified application markets, and stable growth in demand for low-earth orbit satellites and high-end power supplies.

Lite-On Technology President Sampson Chiu stated during an earnings call in late April that the first quarter was the operational trough for the company this year. With the proportion of AI product shipments expected to increase quarter by quarter, he projected strong year-on-year and quarter-on-quarter growth in both core business revenue and profit for the second quarter.