Synnex Technology International Corp (聯強國際), the nation’s second-biggest electronics distributor, yesterday said that it expects to book a gain of NT$727 million (US$26 million) from the disposal of some Concentrix Corp shares listed on the NASDAQ Composite.
The Taipei-based company said in a statement that the transaction is part of its financial management.
Synnex distributes a wide range of electronic products, from Fitbit Inc’s wearable devices to Asustek Computer Inc’s (華碩電腦) notebook computers.
Photo: Wang Yi-hung, Taipei Times
The company unloaded 262,000 Concentrix shares through its subsidiary, Peer Developments Ltd, a company filing with the Taiwan Stock Exchange showed on Monday.
The sale reduced Synnex’s stake in Concentrix from 7.48 percent to 6.9 percent.
Synnex said that it acquired a business process outsourcing unit from International Business Machines Corp in 2014 and then spun off the unit as Concentrix in December last year.
Synnex on Tuesday last week reported that net income surged 41 percent to a record NT$2.54 billion in the first three months of this year, from NT$1.8 billion in the same period last year. Earnings per share last quarter increased to NT$1.52, from NT$1.08 a year earlier.
Synnex attributed the strong quarterly earnings to a rebound in electronics demand as the world economy gradually emerges from the COVID-19 pandemic.
Revenue last month increased 37.8 percent to NT$31.8 billion from NT$23.1 billion a year earlier — the highest April revenue in the company’s history, Synnex said.
Operating margin last quarter increased from 2.3 percent to a record 2.49 percent year-on-year, while revenue increased 23 percent to NT$86.7 billion, compared with NT$68.7 billion a year earlier, Synnex said, adding that chips and electronic components enjoyed record annual growth of 59 percent.
In the first four months of this year, revenue increased 29.16 percent to NT$118.57 billion from NT$91.8 billion in the same period last year.
“Given the favorable business environment, it is likely that the company will reach a new revenue record,” Synnex said.
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