Taiwan's AU Optronics returns to profit in Q1

TAIPEI, April 22 (Reuters) - AU Optronics Corp (2409.TW), Taiwan's No.2 LCD maker, returned to profit in the first quarter after firm demand boosted sales and prices of its displays for computers and flat-screen TVs remained stable.

The outlook is bright for AU Optronics' (AUO.N) as new laptops and thinner TV models sell well.

A supplier to top brands such as Dell Inc (DELL.O), Hewlett-Packard Co (HPQ.N) and Sony Corp (6758.T), AU Optronics said on Thursday it booked a net profit of T$7.3 billion ($233 million) in January-March.

That compared with a net loss of T$20.2 billion in the same period a year earlier and a net loss of T$7.9 billion in the last quarter of 2009. AU was expected to report a first-quarter net profit of T$3.6 billion, according to the consensus forecast by Thomson Reuters I/B/E/S.

Newly merged Chimei Innolux (3481.TW), which overtook AU as Taiwan's No.1 and the world's No.3 LCD maker in March, is set to report its quarterly earnings later this month.

So far this year, AU's stock has fallen 10 percent on worries over weaker panel prices in the traditionally slow season in the second quarter. The TAIEX .TWII share index has lost 3.5 percent in the same period. (US$1=T$31.4) (Reporting by Baker Li, Editing by Anshuman Daga)