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Electronics Production | October 29, 2010

Hon Hai sales increased 63%

Comparing the first nine months of 2010 with the same period in 2009, net sales increased by 63.0% to NT$ 1.593 trillion; Net income improved by 19.4% to NT$ 55.7 billion.
Looking forward, 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, Company had also paced up its effort to unearth huge hidden wealth from intangibles through more aggressive legal efforts. On the industry trend front, the Company not only had greatly extended its capabilities by invest heavily into software, but also expands its unique “Share the Platform” Muster and Alliance program; calling out to ever expanding groups of worldwide peers who embrace the grand vision of making comfort of electronic products usage an attainable reality for all mankind. Together with these partners, Company expects to further raise the bar of its legendary ability to support and uncompromising commitment to customers.

Net Sales: The company’s net sales for the nine months end of September 30, 2010 improved by 63.0% to NT$ 1.593 trillion from NT$ 977.9 billion for the nine months end of September 30, 2009. Gross Profit (net) and Gross Margin: The Company’s gross profit (net) for the nine months end of September 30, 2010 increased 70.6% to NT$ 72.8 billion from NT$ 42.6 billion for the nine months end of September 30, 2009 even when, as a percentage of net sales, gross profit (net) improved to 4.6% from 4.4%.

Operating Expenses: The Company’s operating expenses for the nine months end of September 30, 2010 increased by 72.2% to NT$ 45.1 billion from NT$ 26.2 billion for the same period 2009. As a percentage of net sales, operating expenses increased to 2.8% from 2.7%.

Operating Income and Operating Margin: The Company’s operating income for the nine months end of September 30, 2010 increased by 68.4% to NT$ 27.6 billion from NT$ 16.4 billion for the nine months end of September 30, 2009. As a percentage of net sales, operating income kept the same as 1.7%.

Non-Operating Income and Expenses: The Company’s non-operating income for the nine months end of September 30, 2010 increased by 2.2% to NT$ 36.2 billion from NT$ 35.4 billion for the same period in 2009. As a percentage of net sales, non-operating income decreased to 2.3% from 3.6 %.

The Company’s non-operating expenses for the nine months end of September 30, 2010 increased by 27.1 % to NT$ 1.229 billion from NT$ 967 million for the same period in 2009. As a percentage of net sales, non-operating expenses kept the same as 0.1%.

Income Before Income Tax: The Company’s income before income tax increased by 23.1% to NT$ 62.6 billion for the nine months end of September 30, 2010 from NT$ 50.9 billion for the nine months end of September 30, 2009. As a percentage of net sales, income before income tax decreased to 3.9% from 5.2%.

Net Income and Net Margin: The Company’s net income increased by 19.4% to NT$ 55.7 billion for the nine months end of September 30, 2010 from NT$ 46.6 billion for the same period in 2009 while net income, as a percentage of net sales, decreased to 3.5% from 4.8%.

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