Sinbon Electronics Co (信邦電子), which produces cables, connectors and modems, yesterday reported record revenue for last quarter, even though last month’s revenue fell from the previous month due to holidays in Europe and the US, as well as customers’ year-end inventory adjustment.
Consolidated revenue was NT$6.14 billion (US$216.14 million) for the October-to-December period, up 3.66 percent quarter-on-quarter and 49.35 percent year-on-year, the company said in a news release.
That helped push its cumulative revenue for the whole of last year to NT$21.92 billion, up 20.62 percent from 2019.
“The annual revenue of NT$21.92 billion is the first time that [reveneue] is above the NT$20 billion mark and marked another record in the company’s history,” Sinbon said. “The company has achieved record-high revenue for nine consecutive years since 2012.”
The company’s products include medical and healthcare devices, automotive components and industrial control applications, communications and electronic peripheral components, as well as cable assemblies for microinverters, and AC power and wind power generators.
Cable assemblies contributed 75.57 percent to the company’s total revenue last year, while connectors and other components, and accessories made up 24.43 percent, Sinbon said.
Yuanta Securities Investment Consulting Co (元大投顧) said Sinbon’s financial results often beat expectations, as about 75 percent of its sales exposure was for non-consumer products, adding that the company’s orders are stable, with high visibility.
This year, sales in the company’s green energy, industrial, medical and automotive segments are expected to grow by double-digit percentages, Yuanta said in a note, citing sustained growth in global wind power installations, trends of smart factories and aging populations, and rising prevalence of chronic diseases, as well as economic recovery.
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