Ginko’s surging revenue sends shares skyrocketing

By Camaron Kao  /  Staff reporter, with CNA

Wed, Jul 10, 2013 - Page 14

Contact lens supplier Ginko International Co (金可國際) yesterday saw its shares rise by the daily limit after reporting that last month’s revenue surged from a year earlier.

The company’s stock increased 6.88 percent to end at NT$513.

Ginko’s revenue increased 46.84 percent to NT$400.13 million (US$13.3 million) last month from NT$272.5 million in the same month a year ago, though the figure represented a 4.73 percent fall from the record NT$419.06 million it posted in May, the company said in a filing to the Taiwan Stock Exchange.

In the period from April to last month, the company posted its highest quarterly revenue yet, NT$1.25 billion, up 38.09 percent from NT$904.05 million the previous year and up 22.77 percent from NT$1.02 billion a quarter ago, the filing showed.

Ginko attributed the surge to the completion of two production lines for short-cycle disposable contact lenses in China last quarter.

The company forecast monthly sales to increase in the second half on the back of strong demand for short-cycle contact lenses in China and new disposable colored lenses launched in Taiwan this month.

Credit Suisse Securities last month forecast Ginko’s revenue to grow 32.63 percent annually to NT$5.04 billion this year due to its strong brand recognition and market position in China.