AU Optronics Corp. Reports 1Q2008 Results

AU Optronics Corp. Reports 1Q2008 Results

HSINCHU, Taiwan, April 22 /Xinhua-PRNewswire-FirstCall/ --

AUO First Quarter 2008 Unaudited Consolidated Financial Highlights:
-- Revenue was NT$136.63 billion (US$ 4.5 billion*), 12.1% QoQ decline
-- Net income after tax was NT$26.99 billion (US$ 889 million)
-- Basic Earnings per Share of NT$3.41 (or US$1.12 per ADR)
-- Gross margin: 27.1%, Operating margin: 22.2%

AU Optronics Corp. ("AUO" or the "Company") (TAIEX: 2409; NYSE: AUO) today announced unaudited consolidated revenue of NT$136.63 billion and net income of NT$ 26.99 billion, which attributable to equity holders of the parent company was NT$26.86 billion, for the first quarter ended March 31, 2008. And, basic EPS equaled NT$3.41 per common share (US$ 1.12 per ADR).

The company shipped large-sized panel of 22 million units, 5.1% sequentially decreased but a significant 38.1% YoY increase. Small- and medium-sized panel shipments amounted to 37.68 million, a 21.5% QoQ decrease but a remarkable 70.3% YoY growth.

Mr. Max Cheng, Chief Financial Officer and Spokesperson of AUO noted that while Q1 is low season, AUO was able to hit the 2nd record high in its quarterly profitability, bringing net income to nearly NT$ 27 billion, which represented 18.5% sequential decline but a remarkable improvement from a net loss of NT 5.1 billion in 1Q2007. Despite the weaker US dollar and employee bonus adjustment, AUO was able to keep its gross margin at 27.1% and operating margin at 22.2%, fairly similar to the previous quarter. The better than expected result was attributed to cost down efforts, better product mix and the execution of AUO's "4D Project" -- dedicated team, dedicated fabrication, dedicated line and dedicated material. Company expects to continuously improve its business model and strengthen its financial structure in preparation for the coming growth and challenges.

* Amounts converted by an exchange rate of NTD30.37 :USD1 as of
Mar 31, 2008.
* All financial information was unaudited and was prepared by the
Company in accordance with generally accepted accounting principles
in Taiwan ("ROC GAAP")

ABOUT AU OPTRONICS

AU Optronics Corp. ("AUO") is the world largest manufacturer* of large- sized thin film transistor liquid crystal display panels ("TFT-LCD"), with approximately 20.3%* of global market share with revenues of NT$480.2 billion (US$14.81billion)* in 2007. TFT-LCD technology is currently the most widely used flat panel display technology. Targeted for 40"+ sized LCD TV panels, AUO's new generation (7.5-generation) fabrication facility production started mass production in the fourth quarter of 2006. The Company currently operates one 7.5-generation, two 6th-generation, four 5th-generation, one 4th- generation, and four 3.5-generation TFT-LCD fabs, in addition to eight module assembly facilities and the AUO Technology Center specializes in new technology platform and new product development. AUO is one of few top-tier TFT-LCD manufacturers capable of offering a wide range of small- to large- sized (1.5"-65") TFT-LCD panels, which enables it to offer a broad and diversified product portfolio.

* DisplaySearch 4Q2007 WW Large-Area TFT-LCD Shipment Report dated
Jan 23, 2008. This data is used as reference only and AUO does not
make any endorsement or representation in connection therewith.
2007 year end revenue converted by an exchange rate of NTD32.43:USD1.

For more information, please contact:

Fiona Chiu
Corporate Communications Dept
AU Optronics Corp
Tel: +886-3-5008899 ext 3206
Fax: +886-3-5772730
Email: fiona.chiu@auo.com

Yawen Hsiao
Corporate Communications Dept.
AU Optronics Corp.
Tel: +886-3-5008899 ext 3211
Fax: +886-3-5772730
Email: yawen.hsiao@auo.com

Source: AU Optronics Corp.

CONTACT: Fiona Chiu of Corporate Communications Dept of AU Optronics
Corp, +886-3-5008899 ext 3206, or fax, +886-3-5772730, or fiona.chiu@auo.com;
Or Yawen Hsiao of Corporate Communications Dept. of AU Optronics Corp., +886-
3-5008899 ext 3211, or fax, +886-3-5772730, or yawen.hsiao@auo.com

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