Compal reports 65% July sales increase

Compal Electronics Inc (仁寶電子), the nation's second-largest notebook computer maker, said last month's sales rose 65 percent from a year ago to NT$20 billion (US$588 million), according to a Taiwan Stock Exchange statement. Sales rose from NT$12.2 billion in July last year.

Shares of Compal Electronics, whose stock has slid 27 percent this year, added NT$0.10, or 0.3 percent, to close at NT$31.80.

Compal Electronics said on Monday that it may spend as much as NT$4 billion (US$117 million) to buy back 100 million shares.

The Taipei-based company plans to buy the shares for as much as NT$40 each, it said in a filing to the Taiwan Stock Exchange. The buyback started yesterday and last through Oct. 9.

Quanta Computer Inc (廣達電腦), the world's largest notebook computer maker, said last week it plans to buy back as many as 20 million shares for as much as NT$65 each.

The company said yesterday its July sales declined 9 percent from a year ago to NT$23.0 billion (US$675 million). Sales dropped from NT$25.2 billion in July last year.

Powerchip Semiconductor Corp (力晶半導體), whose stock has slid 44 percent since mid-April, also said it may spend as much as NT$2.4 billion (US$70.4 million) to buy back 80 million shares.

Powerchip, Taiwan's largest memory-chip maker, plans to buy the shares for as much as NT$30 each, the company said in a filing to the exchange late Monday.