BizLink Holding Inc (貿聯) on Friday reported that profit declined 28.63 percent year-on-year in the first quarter, but provided no guidance for the second quarter due to the COVID-19 pandemic.
Net income fell to NT$236.51 million (US$7.9 million), from NT$331.37 million a year earlier, with earnings per share dropping from NT$2.81 to NT$1.81, and consolidated revenue falling 9.65 percent to NT$4.95 billion, the wire harness maker said in a statement.
“Fewer working days and lower utilization levels led to a year-on-year decline in our quarterly sales,” BizLink said.
Although production at its manufacturing facilities in China returned by mid-March, the pandemic began affecting its facilities outside China and disrupting global supply chains, it said.
That caused issues in procuring materials, along with lower overall shipments, it said.
BizLink is the sole supplier of wiring harnesses for battery management systems in Tesla Inc’s Model 3 sedans.
In addition to cables and harnesses for electric-vehicle battery management systems, the company also makes components for information technology, consumer electronics and electrical appliances, as well as telecom equipment and medical devices.
The company said that disruptions from lockdowns in the US, Europe and parts of Asia have begun to normalize with some countries gradually reopening.
However, it would take more time before global supply chains completely return to normal levels, it said.
Still, work-from-home and remote learning trends would continue to boost demand for notebook computers and related accessories, such as docking stations and dongles, which would benefit the company’s information technology and consumer electronics-related businesses, it said.
BizLink also maintains a positive outlook for its businesses in the electric vehicle, semiconductor equipment and medical device areas, after work resumed to normal levels from the end of last month, it added.
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