Wintek Corp (勝華), which supplies touch panels to electronics makers, including Apple Inc, yesterday said net income almost tripled to NT$1.24 billion (US$40.05 million), in the third quarter on growing shipments of high-margin touch panels.
The Taichung-based panel maker made NT$313 million in net income in the second quarter, according to a company statement.
Gross margin improved to 11 percent in the third quarter from 7.5 percent in the second quarter, the statement showed.
“Touch panels deliver a higher gross margin, compared with other products made by our company,” a company executive said by phone, declining to be named.
Touch panels contributed about 70 percent of Wintek’s overall net revenues of NT$19.16 billion in the third quarter, which expanded around 48 percent from the previous quarter.
During the period from April to June, touch panels made up 60 percent of revenues.
Separately, Wintek’s board -approved the launch of a rights issue worth up to US$387 million in the form of depositary receipts, according to a filing with the Taiwan Stock Exchange yesterday.
The company plans to use the proceeds to buy raw materials overseas.
Shares of Wintek soared 88 percent to NT$48.95 during the third quarter from NT$26 at the end of the second quarter, beating the benchmark TAIEX, which increased 12 percent during the same period.
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