Tongtai Machine and Tool Co (東台精機) is likely to report a revenue increase of 17.1 percent from a year ago on the back of rising orders, SinoPac Securities Co (永豐金證券) said last week.
SinoPac predicted that Tongtai’s revenue would hit NT$8.91 billion (US$296.78 million) this year, up from NT$7.6 billion last year ago, it said in a report on Friday.
Sales for the world’s second-largest maker of processing systems for printed circuit boards are expected to rise by 10 percent this year as Taiwanese customers turn away from Japan’s Hitachi Via Mechanics Ltd, SinoPac Securities analyst Iris Lin said.
Hitachi Via Mechanics was acquired by Hong Kong-based investment firm Longreach Group (隆力集團) on Oct. 31 last year.
Sales of processing systems for printed circuit boards accounted for 21 percent of Tongtai’s revenue last year, SinoPac Securities said.
Computer numerical control lathes, which accounted for 21 percent of total revenue last year, and vertical tapping and machining centers, which provided 47 percent of revenue last year, would see sales rise by 10 to 15 percent this year, the report said
“The Chinese car industry and printed circuit board industry are two main sales growth drivers, increasing the company’s current orders over a year ago,” Lin said in the report, adding that Tongtai has orders of NT$2.4 billion at hand, up from NT$1.1 billion last year.
SinoPac said profit would increase 83.8 percent to NT$523 million, or NT$2.26 per share, this year.
Last quarter, the company posted NT$140.74 million in profit, or NT$0.61 per share, more than quadrupling its NT$26.8 million, or NT$0.12 per share, a year ago, the company’s filing with the Taiwan Stock Exchange showed.
Taiwan’s machine tool exports rose 1.53 percent to US$325 million last month from a year ago, on rising exports to China, data compiled by the Taiwan Machine Tool and Accessory Builders’ Association showed.
Machine tool exports to China surged 18.9 percent last month from a year ago, it said.
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