Chi Mei Communication Systems sees earnings improve sharply in 2007
Chi Mei Communication Systems (CMCS), an affiliate of Hong Kong-listed Foxconn International Holdings (FIH), saw its net earnings improve sharply to NT$618 million (US$20.3 million) in 2007, reversing from a net loss of NT$26 million recorded in 2006, according to the company.
The significant improvement in earnings was achieved even though the company's revenues grew only 10.8% on year to NT$20.9 billion in 2007, the company noted.
In addition, gross margin improved to 7% in 2007 compared to 4% in 2006, the company added.
However, the company is conservative about the growth of its earnings for 2008, citing global economic uncertainty, rising raw material prices, and inflationary pressure worldwide.
Having enlisted Motorola, Sony Ericsson and Nokia as its clients, CMCS shipped about 12-13 million handsets in 2007. Handset shipments are likely to top 13-15 million units in 2008, according to estimates by sources at Taiwan-based component makers.
source
The significant improvement in earnings was achieved even though the company's revenues grew only 10.8% on year to NT$20.9 billion in 2007, the company noted.
In addition, gross margin improved to 7% in 2007 compared to 4% in 2006, the company added.
However, the company is conservative about the growth of its earnings for 2008, citing global economic uncertainty, rising raw material prices, and inflationary pressure worldwide.
Having enlisted Motorola, Sony Ericsson and Nokia as its clients, CMCS shipped about 12-13 million handsets in 2007. Handset shipments are likely to top 13-15 million units in 2008, according to estimates by sources at Taiwan-based component makers.
source
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