Darfon Electronic Corporation (達方), a subsidiary of Qsida Corp (佳世達), posted disappointing second-half results yesterday.
Darfon is a leading Taiwan manufacturer of telecommunication components and precision devices. Its product line includes consumer devices such as keyboards, computer mice, Bluetooth headsets, as well as commercial power devices and integrated components and materials.
Affected by low global LCD TV demand and delays in notebook keyboard shipment, the company’s second quarter revenue came in at NT$6.15 billion (US$195 million), a decrease of 6.52 percent from the previous quarter.
Second quarter earnings before tax and after tax were NT$201 million and NT$171 million, which marks a sharp decline of 49.5 percent and 43.56 percent respectively from the first quarter.
Accumulated first-half revenue stood at NT$12.7 billion, resulting in before-tax earnings of NT$599 million and NT$474 million after taxes. Earnings per share (EPS) came in sharply below market expectations at NT$1.98.
According to an InfoTimes report, LCD TV inverters contribute 50 percent of Darfon’s revenue. Given the uncertainty in the LCD TV market, Darfon lowered its annual growth forecast from 50 percent to 40 percent, the report said.
As for Qsida, the company posted second-quarter revenue of NT$30.45 billion, compared to first quarter’s NT$29.23 billion the company said in a filing to the Taiwan Stock Exchange after the stock market closed yesterday.
Second-quarter gross margin declined by NT$220 million to NT$1.02 billion, the filing showed. Earnings after tax came in at NT$570 million and EPS dropped by almost two-thirds to NT$0.32, compared to last quarter’s NT$0.98, it showed.
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