Metal casing manufacturer Catcher Technology Co (可成科技) yesterday saw consolidated sales for last month increase 8.86 percent from April, thanks to new notebook computer and smartphone models launched by its major customers.
Sales reached NT$3.293 billion (US$109.8 million) last month, the highest since October last year, when the company was forced to shut down its plants in Suzhou, Jiangsu Province, by Chinese authorities because of environmental disputes.
Last year the company reported October sales of NT$3.211 billion.
On an annual basis, Catcher’s sales last month were up 10.17 percent from the same month last year, the company said in a statement yesterday.
Cumulative sales in the first five months of the year totaled NT$14.972 billion, 17.22 percent higher than a year earlier, it said.
Catcher supplies metal casings for Apple Inc’s MacBook Air, HTC Corp’s (宏達電) smartphones and Research In Motion Ltd’s (RIM) PlayBook tablets, among other products.
In April, analysts at Macquarie Research Equities and UBS Securities Taiwan predicted Catcher’s sales for the second quarter would grow about 20 percent from the NT$8.654 billion posted in the first quarter, while Credit Suisse last month forecast a sequential increase of between 15 percent and 17 percent, on the back of new model launches by Catcher’s notebook and smartphone customers.
This means Catcher would have to make between NT$3.634 billion and NT$4.062 billion in sales this month if it is to see its second-quarter revenue reach between NT$9.95 billion and NT$10.38 billion, based on analysts’ estimates.
Catcher's shareholders’ meeting -- scheduled to be held on June 13 -- is expected to approved the company's proposal of distributing a cash dividend of NT$5 per share, based on last year's earnings per share of NT$14.93.
In the previous year, the company paid a cash dividend of NT$4 per share to shareholders on its 2010's earnings per share of NT$6.66.
Catcher shares rose 2.81 percent to close at NT$183, ahead of the release of its monthly sales figures, versus a 1.53 percent increase on the TAIEX.
In related news, HTC yesterday declined to comment on a decision by the US International Trade Commission (ITC) to launch a probe into a patent infringement complaint filed by Nokia, saying the patent allegations have entered litigation.
The ITC decided on Monday to institute an investigation into a complaint filed by Nokia on May 2, alleging that HTC had infringed on its technology used in certain electronics devices, such as mobile phones, tablet computers and electronics components.
Additional reporting by CNA