Thu, Apr 12, 2018 - Page 12 News List

Wistron releases unaudited results

By Ted Chen  /  Staff reporter

Wistron Corp (緯創), one of the assemblers of Apple Inc’s iPhones, on Tuesday reported that net income last month dipped 2.24 percent annually to NT$786 million (US$26.9 million), while sales rose 9.31 percent annually to NT$70.29 billion, with earnings per share of NT$0.29.

In the first quarter, net income rose 65 percent annually to NT$899 million, with aggregate sales in the period totaling NT$217.05 billion, up 29 percent from a year earlier.

Earnings per share in the January-to-March period were NT$0.34, the company said.

Wistron released its unaudited operating results at the request of the Taiwan Stock Exchange, following a spike in borrowing and lending of the company's shares in recent sessions.

The preliminary first-quarter figures suggest that last month’s earnings accounted for the bulk of company’s total earnings in the January-to-March quarter.

However, the results also showed that the annual increase of 9.31 percent in last month's sales was relatively weaker than the 36.3 percent growth in February sales to NT$67.36 billion and the 45.2 percent gain in January sales at NT$79.4 billion.

Regarding the discrepancy, Wistron said that it is still in the process of verifying its operating income and gross profit for last quarter.

While the company has not gauged the effects of a stronger New Taiwan dollar, interest expenses are likely to increase this year due to anticipated interest rate hikes in Taiwan and abroad.

Analysts said the company’s smartphone assembly business improved last quarter, as the firm posted growth, despite a dip in notebook computer shipments from 4.5 million units in the fourth quarter of last year to 4.1 million last quarter.

The company is also likely to benefit from Apple’s lower-priced iPhone SE, which is expected to be released later this quarter, analysts said.

Wistron shares gained 1.05 percent to NT$23.95 in Taipei trading yesterday.

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