Taipei, Feb. 11, 2009 (CENS)--The Taiwan-based Hon Hai Precision Industry Co., Ltd., a globally leading EMS (electronic manufacturing service) provider, reported its sales revenue of NT$92.395 billion for January, dropping 24.3% from December 2008 or 12.1% from a year earlier, and hitting a single-month low in the past 20 months, according to company sources.
Hon Hai said that the sales decline was due partly to a seasonal industrial recession in the first quarter, and partly to the global economic downturn. Also, to counter shrinking orders and idle capacity, the firm was forced to cut employees` working hours to lower operating costs, causing its sales revenue to drop as result, according to institutional investors.
On the other hand, Hon Hai`s affiliate Foxconn Technology Group, however, saw its combined revenue grow by 20% annually to NT$14.901 billion in January, thanks to its strong shipments of TV game consoles. The firm scored NT$163.3 billion in annual revenue for 2008, and is likely to push up the figure to over NT$200 billion this year.
In the meantime, Hon Hai Group`s other affiliates, including Innolux Display Corp., CyberTAN Technology Inc. and Pan International Industrial Corp., all suffered sales declines in January.
Sale Performance of Hon Hai Group in Jan., 2009 |
Company | Sales Revenue | Month-on-month Growth Rate | Year-on-year Growth Rate |
Hon Hai Precision Industry Co., Ltd. | NT$92.395 B. | -24.3% | -12.1% |
Foxconn Technology Group | NT$14.901 B. | -6.4% | 20.7% |
Innolux Display Corp. | NT$8.872 B. | -1.4% | -40.4% |
CyberTAN Technology Inc. | NT$737 M. | -17.4% | -42.5% |
Pan International Industrial Corp. | NT$654 M. | -56.7% | -56.4% |
Source: Taiwan Stock Exchange Corp.
(by Steve Chuang)
