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Chunghwa Telecom Reports Consolidated Operating Results For The Third Quarter And First Nine Months Of 2011

Stocks in this article: CHT

TAIPEI, Taiwan, Oct. 28, 2011 /PRNewswire-Asia-FirstCall/ -- Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) ("Chunghwa" or "the Company") today reported its operating results for the third quarter and first nine months of 2011. All figures were prepared in accordance with generally accepted accounting principles of the Republic of China ("ROC GAAP") on a consolidated basis.

(Comparisons, unless otherwise stated, are to the prior year period )

Third Quarter 201 1 Financial Highlights

  • Total consolidated revenue increased by 9.5% to NT$55.71 billion
  • Mobile communications revenue increased by 6.6% to NT$23.76 billion; mobile value-added services (VAS) revenue increased by 40.5% to NT$3.92 billion
  • Internet revenue increased by 0.6% to NT$6.44 billion; internet VAS revenue increased by 13.3% to NT$0.61 billion
  • Domestic fixed communications revenue increased by 17.1% to NT$20.52 billion
  • International fixed communications revenue decreased by 6.0% to NT$3.78 billion
  • Total operating costs and expenses increased by 14.9% to NT$41.83 billion
  • Net income totaled NT$11.93 billion, representing a 0.2% decrease
  • Basic earnings per share (EPS) increased by 25.2% to NT$1.54

First Nine Months 2011 Financial Highlights

  • Total consolidated revenue increased by 8.3% to NT$162.61 billion
  • Mobile communications revenue increased by 3.5% to NT$68.95 billion; mobile VAS revenue increased by 40.4% to NT$11.21 billion
  • Internet revenue increased by 2.5% to NT$18.78 billion; internet VAS revenue increased by 14.7% to NT$1.85 billion
  • Domestic fixed communications revenue increased by 14.3% to NT$59.5 billion
  • International fixed communications revenue decreased by 2.3% to NT$11.43 billion
  • Total operating costs and expenses increased by 12.7% to NT$119.37 billion
  • Net income totaled NT$37.07 billion, representing a 0.3% increase
  • Basic EPS increased by 24.7% to NT$4.75

Dr. Shyue-Ching Lu, Chairman and Chief Executive Officer, said, "I would like to report to you some key business developments for the third quarter. For mobile business, smartphones as percentage of total handsets sold continued to grow, reaching 45% for the quarter. We successfully addressed market competition by offering limited "free on-net call" and "my hot line" packages to enhance customer loyalty. Within our domestic fixed-line business, our strategy to promote higher-speed broadband services has enabled us to accumulate over 365 thousand subscribers to our 50 Mbps offering to date. Our IPTV packages remain competitive, with subscribers currently totaling 980 thousand. We anticipate that the positive feedback engendered by our enriched Family Package will provide impetus for further growth, in addition to our planned expansion in the number of HD channels to 43 by the end of this year. In response to customer demand for ubiquitous services, we plan to launch our new IPTV platform in December this year so that customers can take advantage of our cloud computing technology to enjoy our high-quality programs on televisions, computers, tablets and handsets.

"I am pleased with the progress we have made in executing on these and other initiatives within our VAS and broadband segments, and I am confident that these segments will play an increasingly important role in the Company's future growth."

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