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Hon Hai's February Revenue Soars 25.81% YoY

2011/03/15
Taipei, Mar. 15, 2011 (CENS)--Despite fewer work days in February, Hon Hai Precision Industry Co., Ltd., the world's largest EMS (electronics manufacturing service) provider, reported sales revenue of NT$152.878 billion for the month, up 25.81% year-on-year (YoY), thanks to strong shipments of Apple Inc.'s iPad and Microsoft Corp.'s Kinect.

The firm raked in aggregate sales revenue of NT$339.112 billion in the first two months of the year, up 31.5% from a year earlier, thus helping to reduce market worries about only a moderate growth in the firm's revenue for the year.

Having weathered seasonal factors in February, institutional investors pointed out that Hon Hai is likely to see its sales revenue rebound in March to exceed the level of January, with shipments of the two said hot-selling consumer electronics to fuel the growth.

Noteworthily, to step up its output expansion to match Apple's demand, the firm has budgeted a total of NT$1.841 billion to buy CNC (computer numerically controlled) equipment from Fanuc, a Japanese electromechanical manufacturer specializing in robotics.

Although having yet to report its profit performance, Hon Hai is expected to maintain robust profits this year, when raw material prices and labor costs skyrocket, noted institutional investors. They reasoned that the firm's request for raising quotations has been accepted by most of its clients, which will help to offset profit-eroding raw material and labor costs.

Sales Performance of Hon Hai Group in Feb., 2011

Company

Sales Revenue

Year-on-year Growth Rate

2-month Sales Revenue

Year-on-year Growth Rate

Hon Hai Precision Industry Co., Ltd.

NT$152.878 bn.

25.8%

NT$339.112 bn.

31.5%

Pan-International Industrial Co.

NT$1.108 bn.

13.4%

NT$2.309 bn.

10.7%

Foxconn Technology Co., Ltd.

NT$10.814 bn.

32.4%

NT$20.251 bn.

3.2%

CyberTan Technology Inc.

NT$812 m.

-27.9%

NT$1.787 bn.

-16.9%

Chimei Innolux Corp.

NT$37.359 bn.

173.7%

NT$77.722 bn.

160.6%

Source: companies

(by Steve Chuang)
 
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