Automotive lighting products maker TYC Brother Industrial Co Ltd (堤維西) expects rising sales this quarter, citing the contribution from foreign-exchange gains and a steady aftermarket business.
The company forecast earnings per share would rise above NT$0.70 this quarter, compared with NT$0.67 last quarter, on the back of favorable foreign-exchange rates.
“Foreign-exchange rates remain the biggest uncertainty for the company this year, but so far they have been contributing to our sales and profit,” a TYC official, who asked to remain anonymous, told the Taipei Times by telephone yesterday.
Aftermarket business contributes more than 80 percent of TYC’s revenue, while the original equipment manufacturing business accounts for 20 percent, company data showed.
The US remains TYC’s largest market, accounting for 40 percent, followed by Europe with 20 percent. Taiwan, ASEAN, the Middle East and Central America make up the other 40 percent, company data showed.
The company last week posted first-quarter net income of NT$209.93 million (US$6.66 million), down 17.27 percent from NT$253.74 million a year earlier, as investment gains at Chinese subsidiary Varroc TYC Auto Lamps Co Ltd (大茂偉瑞柯車燈) fell 300 percent to NT$16 million over the period.
Consolidated revenue in the first four months increased 9.57 percent year-on-year to NT$5.97 billion.
TYC shares yesterday closed down 1.56 percent at NT$28.35 in Taipei trading.
They have risen 18.62 percent this year.
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