Largan Precision Co (大立光), the world’s largest handset camera lens supplier, yesterday reported that last month’s sales hit their highest level so far this year, supported by increased orders for clients’ new smartphone models.
Sales grew 14.46 percent month-on-month and 56.85 percent year-on-year to NT$2.4 billion (US$80.57 million) last month, Largan said in a filing to the Taiwan Stock Exchange.
During the first eight months of the year, cumulative sales expanded 59.7 percent to NT$15.47 billion from NT$9.69 billion during the same period last year.
In July, Largan told investors in a conference call that it expected sales would increase sequentially this quarter on the back of clients’ new product launches.
The company counts Apple Inc, HTC Corp (宏達電), Sony Corp, LG Electronics Inc, Nokia Oyj and Samsung Electronics Co among its clients.
PEAK SEASON BOOST
Daiwa Capital Markets analyst Kylie Huang (黃奎毓) forecast Largan’s revenue would grow 20 percent this quarter from last quarter because of the effects of the peak season and new product launches, according to a note released on Tuesday.
Separately, metal casings manufacturer Catcher Technology Co (可成科技) yesterday said its sales last month totaled NT$3.22 billion, down 5 percent month-on-month, but up 19 percent annually.
For the first eight months, Catcher’s sales totaled NT$26.31 billion, up 9.15 percent from NT$24.1 billion.
Catcher’s sales last month missed First Capital Management Inc’s (第一金投顧) estimate of a 3 percent monthly increase, according to the brokerage’s report, released yesterday.
‘BUY’ THESE SHARES
Given the possibility of Catcher being contracted as Apple’s new iPad Mini tablet casing maker, First Capital raised its rating for Catcher shares to “buy” with a target price of NT$170, the report said.
Meanwhile, laptop battery pack maker Simplo Technology Co (新普科技) yesterday said its sales last month rose 4.44 percent to NT$4.7 billion from NT$4.5 billion in the previous month.
On an annual basis, the figure reflected a 6.78 percent decline.
As a result of the weakening demand for traditional desktops and laptops, caused by the rise of mobile devices, Simplo has witnessed its cumulative sales fall 11.3 percent over the past eight months from NT$36.31 billion to NT$32.2 billion.