Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, last week reported record-high revenue of NT$5.92 billion (US$204.38 million) for the third quarter, up 10.85 percent quarter-on-quarter and 15.77 percent year-on-year, driven by sales in the medical, industrial and renewable energy segments.
The company’s third-quarter revenue beat Daiwa Capital Markets Inc’s forecast of NT$5.65 billion due to orders of ventilator to be used for treating COVID-19 patients, recovering vehicle demand and strong demand for solar and wind energy equipment.
Cumulative revenue in the first three quarters rose 12.22 percent year-on-year to NT$15.78 billion, which also marked a record high for the period in the company’s history, Sinbon said in a statement.
The company’s products include medical and healthcare devices, automotive components and industrial control applications, communication and electronic peripheral components, as well as cable assemblies for microinverters, and AC power and wind power generators.
“For the fourth quarter, we believe the revenue drivers remain the medical, industrial and green energy segments,” Daiwa analyst Helen Chien (簡君穎) said in a note on Monday last week.
Daiwa forecast revenue for this quarter would reach NT$5.06 billion, down 14.6 percent quarter-on-quarter, but up 26.0 percent year-on-year, compared with a NT$4.88 billion estimate based on a Bloomberg poll of analysts.
Separately, wire harness maker BizLink Holding Inc (貿聯控股) also released its third-quarter revenue figure, which beat Daiwa’s forecast by 7.7 percent and was slightly above the Bloomberg poll of analysts by 1.4 percent, as the company’s monthly revenue last month continued to mark record highs.
BizLink’s third-quarter revenue was NT$6.06 billion, up 15.1 percent quarterly and 5.2 percent annually, according to the company, which produces wiring for battery management systems in Tesla Inc’s Model 3 sedans, as well as docking stations and dongles for various information technology (IT) vendors.
In the first three quarters, revenue totaled NT$16.28 billion, down 5.97 percent from a year earlier.
For the fourth quarter, BizLink expects revenue to grow quarter-on-quarter thanks to improving automotive and electrical appliance orders, Chien said in a separate note.
Regarding its IT and consumer electronics segments, the company might see slightly higher orders of dongles due to the work-from-home trend amid the COVID-19 pandemic, as well as new models for docking stations in the first half of next year, she added.
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