Wed, Aug 03, 2011 - Page 12 News List

Synnex reports record earnings in Q2

By Kevin Chen  /  Staff Reporter

Synnex Technology International Corp (聯強國際), Asia’s largest distributor of technology products and electronics components, yesterday said it posted a record profit in the second quarter, up nearly 50 percent from a year ago.

Net income rose to NT$1.85 billion (US$64.1 million) in the April-June period, from NT$1.24 billion in the same period last year, thanks to its strong core business and investments gains in India, Thailand, the US and Indonesia, the Taipei-based company said in a statement.

On a quarterly basis, net income increased 32.1 percent from NT$1.40 in the first quarter, company data showed.

Based on the company’s 1.55 billion issued shares, that translates into second-quarter earnings per share of NT$1.20, compared with NT$0.85 a year earlier.

Revenues in the quarter ending June reached NT$72.8 billion, up 13 percent from NT$64.4 billion a year ago, driven mainly by sales of telecoms and communication products, data showed.

Synnex’s quarterly results were much stronger than its rivals, WPG Holdings Co (大聯大投資控股) and WT Microelectronics Co (文曄科技).

WPG Holdings reported on Friday a record profit of NT$1.49 billion in the second quarter, or earnings of NT$1.03 per share, on revenues of NT$82.5 billion, while WT Microelectronics said on Monday its earnings reached NT$419 million, or NT$1.68 per share, on revenues of NT$18.26 billion.

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