Goodway Machine Corp (程泰機械), which makes computerized numerical control latches, yesterday forecast a revenue increase of more than 35 percent this year on the back of rising sales of its new products.
The company expects revenue to rise to NT$8 billion (US$262 million) this year from NT$5.88 billion last year.
Among its products, sales of computerized numerical control latches and Swiss turning latches are estimated to increase to between NT$600 million and NT$700 million this year, from NT$291 million last year, Goodway Machine said.
“We sold our Swiss turning latches to a company making Rolex watches this year. Our product successfully lifted the watchmaker’s efficiency by 40 percent,” Goodway Machine general manager Bruce Kang (康劍文) said at an investors’ conference.
“Last week, it increased its purchases by 10 units, worth about NT$30 million in total,” Kang added.
Total sales this year also increased because of rising demand in Turkey and Europe, Kang said.
The company’s sales in Turkey were 1.36 times greater from January through last month compared with a year ago, accounting for 15 percent of total sales, the firm said.
Sales in Europe increased 53 percent, accounting for 25 percent, Goodway Machine data showed.
From January through last month, Goodway Machine’s cumulative revenue rose 35.17 percent to NT$6.31 billion from NT$4.67 billion a year earlier, Kang said, adding that the firm aims to push the figure to NT$10 billion next year.
In the past three quarters, the company reported net profit of NT$400 million, or NT$4.01 per share, up 49.25 percent from NT$268 million, or NT$2.79 per share, a year ago.
For this quarter, Goodway Machine expects net profit to rise between 20 and 30 percent from NT$159 million, or NT$1.6 per share, a quarter ago as its peak season arrives.
The company is building an additional production base at the Dapumei Intelligent Industrial Park (嘉義大埔美智慧型工業園區) in Chiayi County.
The facility is expected to be completed by the end of next year, providing an increase in Goodway Machine’s output of about NT$2.5 billion, it said.
Goodway Machine also plans to issue convertible bonds worth about NT$603 million by the end of June next year to repay bank loans, it said.
Meanwhile, Awea Mechantronic Co (亞崴), a subsidiary of Goodway Machine that makes bridge type computer numeric control machinery, said its shipments would be close to 1,000 units this year, up from 805 units the previous year.
Awea Mechantronic sold 676 units in the past three quarters, and it expects to sell about 250 units this quarter, it said.
From January through last month, Awea posted revenue of NT$3.16 billion, up 31.75 percent from NT$2.4 billion a year ago, according to a company filing.
Goodway Machine has a 44.14 percent stake in Awea Mechantronic.
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