Tue, Aug 06, 2013 - Page 13 News List

HTC reports sales drop, but stock up on buyback

By Helen Ku  /  Staff reporter

Smartphone vendor HTC Corp (宏達電) yesterday reported that sales last month shrank 28.75 percent from June and 37.14 percent from a year earlier, but its shares were lifted by a buyback scheme.

Sales last month totaled NT$15.72 billion (US$524.47 million), compared with the NT$22.07 billion it generated in June and NT$25.02 billion during the same month last year, according to a filing submitted to the Taiwan Stock Exchange.

Cumulative revenue for the first seven months of the year totaled NT$129.18 billion, down 29.74 percent from NT$183.85 billion in the same period last year, the filing showed.

The Taoyuan-based company did not elaborate on its latest sales results. Last week, the company guided that sales this quarter would range between NT$50 billion and NT$60 billion, down from NT$70.67 billion last quarter.

The stock hit the upper limit and closed at NT$153 yesterday, after the company announced over the weekend a share repurchase plan, effective yesterday through Oct. 4.

The company said it would buy back 15 million shares from the open market at a price range of NT$140 to NT$290 per share.

HTC shares have fallen by nearly 50 percent since the start of the year, Taiwan Stock Exchange data showed.

Meanwhile, Largan Precision Co (大立光), one of the nation’s leading smartphone camera lens suppliers, yesterday reported that its sales last month increased 7 percent from June and 78.26 percent from a year earlier.

The Greater Taichung-based company said in a stock exchange filing that it generated NT$2.1 billion in sales last month, compared with NT$1.97 billion in June and NT$1.17 billion a year ago.

During the first seven months of the year, Largan generated NT$13.06 billion in sales, up 60.19 percent from NT$8.15 billion a year earlier.

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