Hon Hai estimates sales to top NT$1 Trillion in first 11 months
Dec 07, 2007
Thanks to the influx of contract orders for Apple Computer's iPhone cellphones and game consoles, Hon Hai Precision Industry Co. will see cumulative sales break the NT$1 trillion (US$30.95 billion at US$1:NT$32.3) mark in the first 11 months of this year, becoming the first domestic firm posting NT$1 trillion (US$30.95 billion) in annual sales.
With non-combined sales hitting a historic high of NT$$131.1 billion (US$4.05 billion) in October, Hon Hai is expected to see November sales break the NT$140 billion (US$4.33 billion) mark, hitting another historic high record for five months in a row.
Poised as the world's largest electronic manufacturing service (EMS) provider, Hon Hai had cumulative sales of NT$953.9 billion (US$29.53 billion) in the first 10 months of this year, up 39.98% year-on-year. Plus the expected NT$140 billion (US$4.33 billion) in November sales, the company will see cumulative sales break the NT$1 trillion (US$30.95 billion) mark in the first 11 months.
Yuanta Investment and Consultant Co. anticipated Hon Hai will see quarterly sales reach NT$568.5 billion (US$17.6 billion), or monthly sales of NT$150 billion (US$4.64 billion), in the fourth quarter of this year.
Wellphone Securities Co. predicted Hon Hai will see sales and earnings grow 34% and 36% in the fourth quarter of this year, respectively from the previous quarter. The securities firm said the capital market has over-reacted the situation that desktop computers will replace notebook computers as Hon Hai's share price dropped over 20% in November.
The securities firm noted over the past few months, Hon Hai has seen growth in shipments of consumer electronics and parts and components. In 2008, Hon Hai will include some new product lines, including networking equipment, digital still cameras and Apple iPhone cellphones which will continue to push up the company's sales.
source & copyright: CENS