AU Optronics returns to profit, beats forecasts

TAIPEI, July 28 (Reuters) - Taiwan's AU Optronics Corp (2409.TW), the world's No.4 LCD maker, returned to profit in the second quarter from year-ago losses as display sales and prices recovered from last year's slump.

AU Optronics, a supplier to top brands such as Dell Inc (DELL.O), Hewlett-Packard Co (HPQ.N) and Sony Corp (6758.T), posted a net profit of T$11.246 billion ($350 million) in April-June, compared with a net loss of T$6.6 billion in the same period a year earlier and a net profit of T$7.3 billion in the previous three months.

AU was expected to report a second-quarter net profit of T$7.025 billion, according to a consensus forecast by Thomson Reuters I/B/E/S.

So far this year, AU's stock has fallen 22 percent and Chimei shares are down 26 percent on worries over weaker TV sales and panel prices, against a 5 percent rise on the main TAIEX .TWII index in the same period. ($1=T$32) (Reporting by Baker Li, Editing by Lincoln Feast and Jonathan Hopfner)