Hon Hai led Taiwan's top 10 IT firms in revenue for Jan.-Sept. 2003

Nov 04, 2003 Ι Industry In-Focus Ι Electronics and Computers Ι By Judy, CENS
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Taipei, Nov. 4, 2003 (CENS)--Hon Hai Precision Ind. Co. scored the highest revenue in the first nine months of the year among Taiwan's top 10 information technology (IT) manufacturers, according to financial statements recently released by the firms.

During the period Hon Hai raked in revenue of NT$220 billion (US$6.38 billion at US$1 = NT$34.5) and after-tax earnings of NT$16.29 billion (US$472 million). Its earnings per share (EPS) of NT$6.47 (US$0.19) was also the highest among the top 10.

Although economists forecast that the thin-profit age is coming for global enterprises, yet Taiwan's IT firms still gained handsome profits in the first three quarters of the year. Besides Hon Hai, those reaping good harvests in the same period included Quanta Computer Inc., Chunghwa Telecom Co., Taiwan Semiconductor Mfg. Co. (TSMC), Asustek Computer Inc. and Acer Inc.

In terms of after-tax profits, Chunghwa topped with NT$36.41 billion (US$1.06 billion), followed by TSMC's NT$31.26 billion (US$906 million), and Hon Hai's NT$16.29 billion (US$472 million).

Compared to the corresponding period of last year, Hon Hai 's revenue and after-tax profits for the first nine months of the year enjoyed a growth of 33.7% and 33.9% respectively. And its gross profits margin for the period posted an annual increase of 11.5% to reach NT$14.4 billion (US$417.4 million), up11.5%. Quanta's revenue of NT$202.2 billion (US$5.86 billion) posted a whopping annual growth of 106.89%.

In the third quarter alone, Hon Hai's after-tax profits stood at NT$6.18 billion (US$179.3 million), compared to Asustek's NT$3.2 billion (US$92.84 million). Both showed better profit performance than expected.

Institutional investors predicted that orders from major international IT firms would keep flowing to the hands of Taiwan's contract manufacturers in the last quarter of the year. They attributed the expected boom to the continuing recovery of the global market for personal computers (PCs) and the traditional peak season for consumer electronic products for the coming Christmas.

Revenues & Profits of Taiwan's Top 10 IT Firms, Jan.-Sept. 2003

Company

Revenues

(Unit: NT$100 M.)

Comparison to Jan.-Sept. 2002

Growth (%)

After-tax Profits

(Unit: NT$100 M.)

EPS

NT$

Hon Hai

2,200.73

33.86

162.85

6.47

Quanta Computer

2,022.11

106.89

98.49

3.59

TSMC

1,441.25

20.30

312.56

1.54

Mitac International

1,357.7

11.4

7.28

0.71

Chunghwa Telecom

1,339.07

1.48

364.05

3.77

Asustek Computer

1,331.4

80

88.59

3.88

Compal Electronics

1,026.54

27.35

76.64

2.62

Acer

1,015.1

37

58.73

2.87

Lite-On Technology

1,018.66

-

49.12

2.24

BenQ

840

9.7

51.43

2.49

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