Electronics Production | May 14, 2009

Foxconn net income dropped by 17% in 1Q/2009

While comparing the first three months of 2009 with the same period in 2008, net sales for Foxconn decreased by 8.9% to NT$ 378.3 billion; Net income dropped by 17.0% to NT$ 13.3 billion, yet, in midst of the U.S. sub-prime crisis led global economic uncertainty and industry shrinkage, the Company has again achieved market share gain.
On the competitive advantage front, while steadfastly expanding the eCMMS coverage in mechanical, optical and electrical integration, and leveraging the overall platform’s after sales services and channel synergy, Foxconn continues to strive to providing better and broader services to its customers. The company not only has extended its capabilities by invest heavily into software, nano-technology applications and robotics, but also seeks to expand its “Share the Platform” Muster and Alliance program.

"Despite the general uncertainty and a challenging industry, under the backdrop of relatively strong computing business, the Company managed to gain further market share," said Edmund C.A. Ding, Spokesperson. "The visibility remains short, yet, our determination and our dedication to strategic partner customers’ success and to the dream of making the usage of environmentally-friendly electronics attainable luxury to all mankind remain. Aside from being a recognized EICC member, we determine to continue revolutionize the manufacturing services providing industry by not only strive for the best speed, quality, engineering services, efficiency and value-added, but also enforce social and environmental responsibility standard to maximize our stakeholders’ long term value at the same time.“

Liquidity and Capital Resources:
During the three months end of March 31, 2009, Hon Hai’s end of period cash and cash equivalents amount to NT$ 96.1 billion versus NT$ 166.8 billion of same period in 2008. The current period cash consist of inflow of operating of NT$ 32.6 billion and outflow of financing activities of NT$ 28.6 billion respectively, and outflow of investing activities of NT$ 7.2 billion. In comparison, the same period in 2008 cash of inflow of operating and financing activities of NT$ 37.1 billion and NT$ 9.2 billion respectively, and outflow of investing activities of NT$ 20.5 billion.


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