TPK Holding Co Ltd (宸鴻), a maker of touch solutions and a supplier to Apple Inc, yesterday said its revenue last month showed a marked expansion from June, although it remained below last year’s level.
Consolidated revenue surged 56.5 percent to NT$9.31 billion (US$303.95 million), compared with NT$5.95 billion the previous month, hitting the highest monthly level since January.
Last month’s sales were 2.9 percent lower than NT$9.58 billion a year earlier, according to a statement the company posted on its Web site.
TPK did not elaborate on its sales performance for last month, although market watchers said the monthly increase might be due to ramped-up production to prepare for new product launches by clients later this quarter.
On July 26, TPK told investors that its internal target was to grow third-quarter revenue by 70 percent from the second quarter, which it said was a trough for this year.
The company at the time projected revenue for this quarter would reach the level it was during the same period last year, or about NT$30 billion, aligned with product launches.
Due to seasonal factors and product transition that led to weak capacity utilization rates and a low sales scale, TPK in the second quarter reported a net loss of NT$227 million, or losses per share of NT$0.56, its first quarterly loss in two years.
Second-quarter revenue decreased 14.7 percent quarterly and 20.6 percent annually to NT$17.79 billion amid declining shipments, particularly because of a legacy smartphone product from one of its clients approaching the end of production, the company said on July 26.
Apple accounted for 42 percent of TPK’s sales in the second quarter, down from 59 percent in the first quarter, according to an estimate by Yuanta Securities Investment Consulting Co (元大投顧).
From January to last month, TPK’s cumulative revenue totaled NT$47.95 billion, down 10.22 percent from NT$53.41 billion in the same period last year, company data showed.
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