Wed, Apr 11, 2012 - Page 12 News List

Hon Hai Precision’s revenue grew 18 percent in March

By Lisa Wang  /  Staff reporter

Hon Hai Precision Industry Co Ltd (鴻海精密), which assembles iPhones and iPads for Apple Inc, yesterday posted nearly 18 percent in monthly growth in unconsolidated revenue last month, after the US company’s new tablet device hit the market early last month.

Revenue grew for the seventh consecutive month to NT$278.73 billion (US$9.43 billion) last month, compared with NT$236.55 billion in February, the company said in a statement. Last month’s figures also meant about a 30 percent increase from NT$214.9 billion posted in the same period of last year.

With last month’s sales, the world’s largest electronics service provider saw its first-quarter revenue total NT$789.94 billion, an increase of 42 percent from a year earlier, the second-highest level in history.

On a quarterly basis, the results for the January-to-March period were 14 percent lower than the record-high revenue of NT$919.68 billion three months ago, which the company blamed on the impact of seasonally slow demand.

Apple products are expected to account for 39 percent of Hon Hai’s revenue of NT$4.05 trillion on a consolidated basis this year, Barclays forecast.

Shares of Hon Hai rose 0.46 percent to NT$110 yesterday ahead of its sales announcement, versus a gain of 0.52 percent on the TAIEX.

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