Wed, Oct 09, 2013 - Page 14 News List

Synnex revenue hits second-highest level

By Kevin Chen  /  Staff reporter

Synnex Technology International Corp (聯強) yesterday said revenue last month hit the second-highest level in the company’s history, boosted by double-digit percentage increases in sales generated from consumer electronics and integrated circuit components, the company said in an e-mailed statement.

Since the Taipei-based company has been working with Apple Inc in India via its reinvestment unit, Redington Group, and is widely expected to become a distribution partner for Apple in China, Synnex could see revenue climb even higher this quarter, analysts said.

Synnex’s consolidated revenue went up 15.99 percent to NT$31.2 billion (US$1.06 billion) last month from NT$26.9 billion in August, slightly lower than its highest-ever level of NT$31.25 billion posted in September last year.

During the July-to-September period, revenue amounted to NT$85.8 billion, up 9 percent from NT$78.7 billion in the previous quarter and 4 percent higher than NT$82.5 billion in the same period last year, the company said in the statement.

The quarterly result was better than Yuanta Investment Consulting Co’s (元大投顧) forecast of NT$82.6 billion and comparable to First Capital Management Inc’s (第一金證券投顧) estimate of NT$86.7 billion.

Among its major products, Synnex’s consumer electronics revenue increased 38 percent year-on-year to NT$13.8 billion last quarter and IC components sales rose 32 percent to NT$19.7 billion over the same period. That helped the company offset its 57 percent annual decline in telecom products revenue, which was only NT$4.7 billion last quarter.

Sales of information technology products, which account for 57 percent of its total revenue and are the company’s main driver, increased just 2 percent to NT$47.6 billion last quarter, company data showed.

Synnex — Asia’s leading distributor of information technology products and electronics components — shares rose 0.32 percent to NT$47.1 yesterday, down 11.96 percent since the beginning of the year, data from the Taiwan Stock Exchange showed.

This story has been viewed 1839 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top