Thu, May 04, 2017 - Page 12 News List

Global PMX sees quarterly income increase 25 percent

By Kuo Chia-erh  /  Staff reporter

Global PMX Co Ltd (智伸科), a supplier of precision machinery processing services, yesterday reported record-high net profit of NT$126 million (US$4.19 million) for the first quarter on the back of strong automotive product sales.

The company’s net income for the quarter translated into a 21.5 percent surge from the NT$103.8 million posted in the same period last year, with earnings per share rising to NT$1.54, from NT$1.27, a company statement said.

Consolidated revenue reached NT$940.4 million in the quarter, an increase of 11.3 percent from the NT$844.7 million posted during the same period last year, the statement said.

Car components remained the largest contributor to the company’s sales in the quarter, accounting for nearly 66 percent of its total revenue, while components for medical equipment made up 13 percent.

Gross margin also improved from 28.83 percent to 32.87 percent in the quarter, thanks to a better product mix and improved production processes.

Headquartered in New Taipei City, Global PMX mainly produces metal components for anti-lock braking systems and steering systems.

The company gave an optimistic sales outlook for the rest of the year on the back of increasing orders from its existing brand customers and upcoming product launches.

Rising demand from several major clients — including German engineering giants Bosch Group and Continental Corp — is expected to stimulate sales further in the near term, the company said, citing increasing penetration of advanced driver-assistance systems.

Meanwhile, the company said it is to start making components for dual-clutch transmissions in the second half, eyeing growing demand for energy-efficient auto parts.

Global PMX said it is also planning to develop more precision components for surgical instruments, which are expected to become future profit drivers for the company.

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