UNITED ELECTRONICS COMPANY (EXTRA) ANNOUNCES THE ESTIMATED FINANCIAL RESULTS FOR THE PERIOD ENDED 30/09/2012 (NINE MONTHS) AS FOLLOW:
1.The estimated net profit during the third quarter is 28.4 million, compared to 26.4 million for the same quarter last year with increase 7.5 % and versus 48.4 million for the previous quarter with a decrease of 41.4%.
2.The estimated gross profit during the third quarter is 121 million, compared to 104 million for the same quarter of last year with an increase of 16.3%.
3.The estimated operating profit during the third quarter is 29.3 million compared to 27.1 million for the same quarter last year with an increase of 8.2 %.
4.The estimated net profit during nine months 100.5 million compared to 90.9 million for the same period of last year with an increase of 10.6 %.
5.The estimated Earnings per share during nine months 4.18 SR / share versus 3.79 SR / share for the same period last year.
6.The estimated gross profit during nine months 364 million compared to 315 million for the same period of last year with an increase of 15.5%.
7.The estimated operating profit during the nine months is 103 million, compared to 94 million for the same period of last year with an increase of 10%.
8.The estimated total sales of the third quarter is 699 million compared to 610 million for the same quarter of last year with an increase of 14.5%.
9.The estimated total sales for the nine months is 2,051 million compared to 1,738 million for the same period of last year with increase of 18%.
10.The increase in the estimated net profit and total sales is due to the increase in the number of showrooms from 20 showrooms in the third quarter of 2011 compared to 29 showrooms in the third quarter of 2012, in addition to the positive growth in the existing showrooms during the first nine months of the year.
11.The decrease in the estimated net profit during the third quarter compared to the second quarter in current year is due to the increase in the sales of home appliances with a relatively high gross margin in the second quarter compared to the third quarter due to the marriage season, in addition to the relatively lower gross margin due to the different sales mix, as the sales of mobiles, PCs and tablets in the third quarter are higher compared to the second quarter.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.