Viewsonic Reports First Quarter 2007 Financial Results

Viewsonic Reports First Quarter 2007 Financial Results

ViewSonic® Corp., a worldwide leader in display products, today announced its financial results for the quarter ended March 31, 2007. Net sales were $409.8 million, an increase of 25.4 percent compared to $326.8 million in the first quarter of 2006. The increase in net sales was primarily driven by growth in unit shipments of LCD, LCD TV and projector products.

Net income was $4.0 million in the first quarter of 2007, compared to $3.6 million in the first quarter of 2006. The increase in net income was primarily the result of the growth in net sales, and a reduction in selling, general and administrative expenses as a percent of revenue, which were 7.1 percent of net sales in the first quarter of 2007, compared to 8.2 percent of net sales in the first quarter of 2006.

“While the display industry as a whole experienced LCD panel oversupply, which caused average selling prices to decline, ViewSonic was able to offset these market dynamics through continued focus on streamlining our business processes and enhancing product selection across our display portfolio to bring customers more choices,” said James Chu , Chairman and CEO of ViewSonic Corporation. “Implementing these strategic actions resulted in a 25 percent increase in sales and a 30 percent increase in operating income versus the prior year.”

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