Metal casing manufacturer Catcher Technology Co (可成科技) yesterday said its net profit for the second quarter grew 139.6 percent year-on-year due to increased shipments of smartphone casings.
After-tax profit climbed to NT$3.63 billion (US$121.38 million) in the April-to-June quarter from the same period last year, but fell 7.2 percent from the previous quarter due to debt repayment, the company said during a conference call.
Earnings per share last quarter were NT$4.84, up from NT$2.02 a year ago, but down from NT$5.22 in the first quarter, the company said.
“Catcher’s quarterly sales and profit are likely to continue growing sequentially through the fourth quarter,” Catcher president Allen Horng (洪水樹) said.
“Though some of Catcher’s clients underperformed in the smartphone market last quarter, the company remains confident about its business,” Horng said.
The company expects to see record sales next month and revenue this quarter is likely to reach this year’s peak, following clients’ launches of new smartphone products, he said.
The company has also initiated new “smartphone projects” this quarter to get prepared for its customers’ new orders, he added.
The Greater Tainan-based company did not elaborate, but said its “South Korean client” has turned more cautious over raw materials used for its smartphone casings.
Horng said more of its smartphone clients are considering using metal casings for their new products and are willing to pay a higher price for metal casings.
The company has about 16,000 computer numerical control (CNC) machines, which Horng said are enough to meet clients’ demand.
Catcher needs to improve its utilization rate to boost sales in the third and fourth quarters, he added.
The company also reported that sales last month grew 1.3 percent month-on-month and increased 9.7 percent year-on-year to NT$3.39 billion.
Cumulative sales in the first seven months of the year increased 7.9 percent to NT$23.08 billion from NT$21.39 billion during the same period last year, the company said in a filing submitted to the Taiwan Stock Exchange.
Catcher shares closed up 2.58 percent at NT$139 yesterday.