Consolidated sales at Wintek plunged 17.95% last month

By Kevin Chen  /  Staff Reporter

Wed, May 04, 2011 - Page 12

Wintek Corp (勝華), which supplies touch-panels to Apple Inc and Nokia Oyj, said yesterday its consolidated sales reached NT$6.88 billion (US$239.6 million) last month, down 17.95 percent from the previous month.

However, last month’s sales expanded 84.77 percent from the same period of last year, the Taichung-based company said in a filing to the Taiwan Stock Exchange.

The company did not elaborate on the monthly decline in sales. Analysts at Primasia Investment Consultancy Co attributed the decline to product transition, as some of Wintek’s clients are in the process of moving their small and medium-sized products to new technologies.

In the first four months of this year, revenues totaled NT$28.23 billion, representing a 149.39 percent increase from a year earlier, Wintek said.

Wintek shares have fallen 2.3 percent since on Friday, when the company posted a more than 70 percent decline in profits during the first quarter year-on-year and a fall of about 13 percent in revenue.

Net income was NT$348 million, earnings per share of NT$0.24, in the January-to-March period, the company’s data showed.

Wintek shares closed at NT$40.15 yesterday in Taipei trading. Credit Suisse yesterday cut its target price on Wintek to NT$45 from NT$64, while CLSA lowered its target price to NT$49.6 from NT$54.3.