Apple Inc supplier Catcher Technology Co Ltd (可成) yesterday said that its net profit last quarter plunged 79 percent quarter-on-quarter because of a foreign exchange loss of NT$2.43 billion (US$84.16 million).
Net profit fell to NT$569 million — its lowest level since the second quarter of 2010 — during the quarter ending on Sept. 30, from NT$2.77 billion in the second quarter, the metal casing supplier said in a statement.
That represented a contraction of 83.3 percent from NT$3.4 billion a year earlier.
Earnings per share (EPS) dipped to NT$0.75 last quarter, from NT$3.63 a quarter earlier and NT$4.41 a year earlier.
Operating profit surged 59 percent to NT$5.38 billion last quarter, from NT$3.38 billion in the second quarter. That was a 20.5 percent increase from NT$4.47 billion in the same period last year.
IMPROVEMENT
Gross margin improved to 28.9 percent last quarter from 22.9 percent in the second quarter and 23.1 percent a year earlier, the statement said.
Last quarter’s gross margin was the highest in seven quarters, thanks to improved product portfolios, it said.
During the first three quarters of this year, net profit shrank 7.2 percent to NT$7.26 billion, compared with NT$7.82 billion for the same period a year earlier.
EPS dropped to NT$9.49 from NT$10.15. The company booked NT$2.79 billion in foreign exchange losses during the first three quarters of the year.
Revenue rose 6.9 percent to NT$63.82 billion in the first nine months from NT$59.7 billion a year earlier.
NO DIVIDEND
Catcher said in company filing with the Taiwan Stock Exchange that it does not plan to distribute a cash dividend for the first half of this year.
The company’s board of directors approved the plan yesterday.
The firm reported that net profit increased 51.2 percent in the first half of this year to NT$6.69 billion from NT$4.42 billion a year earlier.
EPS jumped to NT$8.72 from NT$5.74 over the same period.
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