Delta Electronics Board of Directors Approves Recognition of Asset Impairment

December 03, 2009 by Jeff Shepard

Delta Electronics plans to wind up its CCFL business operation on March 1, 2010 in light of decreasing CCFL market demand, and will concentrate the resources on more promising businesses.

The company’s Board of Directors approved the recognition of asset impairment of the company and its subsidiary in 4Q 2009 according to ROC Statements of Financial Accounting Standards No. 35. The company will write off NT$241,298,000 while its subsidiary Delta Electronics Components (Wujiang) Ltd. will write off NT$865,292,000. The impact on the company’s consolidated net income will be around NT$688,654,000 after taking the shareholding structure into account.

The above numbers are self-declared by the company and its subsidiary and have not yet been audited by a CPA.