Issued on: 2014/01/09

GeoVision announced its preliminary consolidated financial results for the fourth quarter and the fiscal year of 2013.

Net revenues for the fourth quarter at NT$560.0 million:

• The sales growth in the fourth quarter driven by the high season encountered a setback due to the snow storms in the major market of the US.
• Down 7.7% sequentially from NT$ 606.6 million in the third quarter of 2013.
• 2.2% lower compared to NT$NT$572.7 million in the fourth quarter ended Dec. 31st 2012.

Net revenues for FY2013 at NT$2,257,972 million:

• Up12.1% from NT$2014.0 million in the fiscal year of 2012

Gross margin for the fourth quarter at 54.4%

• Slightly up 0.1% from 54.3% of the third quarter of 2013, but down 2.0% from 56.4% of the fourth quarter of 2012

Gross margin for the FY2013 at 55.0%

• The gross profit of FY2013 were NT$1,241 million, increased 7.8% compared to the same period of FY2012.

Operating income for the fourth quarter at NT$149.4 million or 26.7% of the revenues

• Down 15.4% sequentially from the third quarter of 2013
• Down 16.0% compared to the fourth quarter of 2012.

Operating income for FY2013 at NT$656.7 million or 29.1% of the revenues

• Up 5.7% from NT$621.5 million in the year of 2012

Income before tax for the quarter at NT$163.2 million or 29.2% of the revenues

• Down 9.4% sequentially from NT$180.1 million in third quarter of 2013.
• 8.0% lower compared to NT$177.4 million in the fourth quarter of 2012.
• Pre-tax EPS for the quarter at NT$2.57 per share

Income before tax for FY 2013 at NT$701.2 million or 31.1% of the revenues

• Up 13.9% from NT$615.6 million in the year of 2012
• Pre-tax EPS for FY2013 at NT$11.02

During 2013 the network surveillance products contribution to the sales hiked to 71% from 59%, among which the megapixels network cameras hiked to 65% from 53%

GeoVision Consolidated Income Statement (Unaudited)

	Q4, 2013				FY2013
Unit: NT$K	Amount	%	QoQ	YoY	Amount	%	YoY
Net Sales	559,928	100	-7.7%	-2.2%	2,257,972	100	12.1%
Gross Profit	304,642	54.4	-7.5%	-5.6%	1,241,413	55.0	7.8%
Operating Income	149,397	26.7	-15.4%	-16.0%	656,735	29.1	5.7%
Income before Tax	163,222	29.2	-9.4%	-8.0%	701,220	31.1	13.9%
Pre-tax EPS (NT$)	2.57		-9.4%	-16.3%	11.02		3.6%

* The figures are un-audited.