Wed, Oct 10, 2007 - Page 11 News List

Chi Mei stock rises to three-month high

BLOOMBERG

Shares of Chi Mei Optoelectronics Corp (奇美電子) yesterday climbed to their highest in three months after the company reported a 68 percent rise in sales last month.

Chi Mei shares advanced 0.3 percent to NT$40.50 at the close of trade, the highest since July 10, after the stock earlier climbed by the daily limit of 6.9 percent. The benchmark TAIEX fell 0.8 percent.

The company on Monday said that sales last month, including revenue from affiliates, rose to NT$32.96 billion (US$1 billion).

Third-quarter sales jumped 81 percent to NT$88.2 billion from a year earlier, Chi Mei said.

Shipments of LCD screens in the third quarter increased 30 percent from the previous quarter to 15.08 million panels, the company said.

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