Foxconn after-tax profits up nearly 50% in 1Q
Apr 30, 2007
Foxconn Electronics (Hon Hai Precision Industry) reported that it posted after-tax profits of NT$15.63 billion (US$469.4 million) in the first quarter of this year, up 48.9% on year. The earnings translate into a net EPS (earnings per share) of NT$3.02 for the quarter.
Including revenues of Hong Kong-listed handset subsidiary Foxconn International Holdings (FIH), Foxconn said its snapped up after-tax profits of NT$59.86 billion on consolidated revenues of NT$1.32 trillion in 2006. The net EPS for 2006 was NT$11.58.
The company said that its operating margins stood at 5.7% in 2006, better than 5.5% in 2005. However, its gross margins slid to 9.7% last year from 10.3% in 2005 due to fierce competition in the EMS (electronics manufacturing services) segment, according to company spokesman Edmund Ding.
Foxconn plans to hand out a dividend of NT$5.0, including NT$3.0 in cash and NT$2.0 in shares, for 2006, the company said.