Wed, Dec 11, 2013 - Page 14 News List

Hon Hai posts monthly sales of US$15.39 billion

By Lisa Wang  /  Staff reporter

Hon Hai Precision Industry Co Ltd (鴻海精密), which makes iPhones and iPads for Apple Inc, yesterday reported record-high monthly revenue at NT$456.19 billion (US$15.39 billion) for last month.

The figure represented 19.23 percent growth, compared with NT$382.62 billion in October. On an annual basis, that was an increase of 0.84 percent from NT$386.59 billion.

From January to November, cumulative revenue shrank 0.84 percent to NT$3.46 trillion from NT$3.49 trillion in the same period of last year, the company said.

YUANTA

Yuanta Securities Co (元大證券) forecast that Hon Hai’s revenue would jump 36 percent this quarter to NT$1.25 trillion from last quarter’s NT$919.3 billion, driven by growth in shipments of iPhones and iPads.

Hon Hai is expected to ship 70 percent more iPhones this quarter and 110 percent more iPads, compared with last quarter, Yuanta analyst Vincent Chen (陳豊丰) predicted.

That would bring the total shipments of iPhones from Hon Hai to 160.6 million units this year, while the company’s shipments of iPads would reach 50.8 million units this year, according to Yuanta’s estimate.

‘BUY’ RATING

Chen retained his rating of “buy” for Hon Hai, with a target price of NT$91, implying an upside of about 14 percent over the next 12 month from the company’s closing price of NT$79.9 yesterday.

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