Brighten Optix, Taiwan’s largest manufacturer of rigid contact lenses, has announced its 2024 financial results. Despite facing challenges from China’s sluggish economy and delays related to clinical trials and regulatory approvals for vision care products, the company posted a net profit after tax of NT$147 million, with earnings per share (EPS) of NT$5.51. The board of directors has approved the distribution of NT$9.19 in cash dividends per share, by utilizing gains from reinvestment recorded under retained earnings. Based on the closing price of NT$146 on April 11, the cash dividend translates to a yield of 6.29%.
Brighten Optix also reported consolidated revenue of NT$85.8 million for February 2025, representing a sharp increase of approximately 67% from the previous month and a 29.30% growth compared to the same period last year. This surge was driven by parents bringing their children for vision checks and myopia management consultations at the end of the winter break, boosting sales of orthokeratology (OK) lenses in Taiwan, China, and across the Asia-Pacific region. With the widespread adoption of digital devices and AI-assisted learning solutions in recent years, managing myopia has become an essential concern for both parents and students.
For the full year 2024, Brighten Optix achieved consolidated revenue of NT$766.92 million, setting a new all-time high. This achievement was largely attributed to the launch of a popular bundled offering that combines overnight-wear OK lenses, contact lens care solutions, and eyeglass frames. Sales through clinics in Taiwan grew approximately 14% compared to the previous year. In China, after a period of market adjustment in the first half of the year, sales in the second half rose by about 9% over the first half. Meanwhile, newly developed markets in the Asia-Pacific region, including Australia, demonstrated robust momentum, delivering an impressive 65% year-over-year growth.
The company maintained a high gross margin of 68%. However, operating expenses increased by approximately 23% compared to the previous year. This was primarily due to higher R&D costs associated with the S.T.O.P clinical trial and the certification processes for various myopia control products in different regions. Net profit after tax was NT$147 million, representing a 25% decline from the previous year, with EPS standing at NT$5.51.
The board also approved the 2024 earnings distribution plan, which includes a cash dividend payout of NT$9.19 per share. This decision was made after recognizing NT$175 million in reinvestment gains under retained earnings for 2024, contributing approximately NT$6.47 to EPS. Based on Brighten Optix’s closing price of NT$146 on April 11, the cash dividend offers a yield of 6.29%.
Resource: 亨泰光2024年EPS 5.51元，大手筆配息9.19元，現金殖利率6.29%
