Acer Inc (宏碁), the world’s third-largest global personal computer vendor after Hewlett-Packard Co and Dell Inc, reported stable third-quarter financial results and voiced optimism about prospects for the fourth quarter and next year.
Acer’s third-quarter results showed that it ranked first in the PC (desktops and mobile computers) and notebook segments in Europe, the Middle East and Africa (EMEA); third in the US for both segments; and fourth in PC and third in notebooks in Asia, Acer president Gianfranco Lanci, citing GfK data, told an investor conference in Taipei yesterday.
After-tax earnings in the July-to-September quarter were up 4 percent year-on-year to NT$3.04 billion (US$95 million), after incurring NT$503 million in nonoperating expense. Earnings per share reached NT$1.22, compared with NT$1.20 a year earlier.
Non-operating expenses surged amid sharp foreign exchange fluctuations and massive layoffs at its Gateway and Packard Bell operations in the US and Europe, Acer chairman Wang Jeng-tang (王振堂) said.
Third-quarter revenue came in at NT$159.16 billion, an increase of 31 percent from same period last year. Gross profit and operating income (after payments of bonuses and executive remuneration) were NT$16.07 billion and NT$4.65 billion, up 28 percent and 66 percent year-over-year respectively, the company’s quarterly data showed.
The company expects fourth-quarter results to be in line with its third-quarter performance, with notebook shipments growing by 20 percent to 25 percent sequentially, or 55 percent to 60 percent from last year, Lanci said.
Anticipating strong demand from end consumers, the company forecast that its notebook shipments would outpace global shipment growth and expand by between 25 percent and 35 percent.
But the company warned investors of flattish desktop and monitor demand, resulting in total PC shipment growth of between 20 percent and 30 percent next year.
“Despite strong results from our Aspire One netbooks, we will not deviate from our core business in notebooks. Also, our revenue goal in terms of geography for 2009 will be 50/30/20, which means 50 percent EMEA, 30 percent pan-America and 20 percent Asia,” Lanci said.
Affected by the global economic downturn and foreign capital outflows, Acer’s share price has dropped 26.9 percent from the beginning of this year, closing at NT$42.95 yesterday.
Wang said the share price was a serious undervaluation of the company’s net worth.
“This A company is not that A company,” Wang said, referring to its chief rival Asustek. “Our economies of scale and global dominance can’t be compared.”
On Thursday, Asustek Computer Inc (華碩電腦) reported a 14.2 percent year-on-year decline in net profits to NT$6.38 million.
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