Foxconn operating margin falls to 3% in 1Q
May 04, 2004
Foxconn Electronics (the registered trade name of Hon Hai Precision Industry) saw its operating margin fall to 3% in the first quarter, down from 3.6% a year earlier, though the company’s profits continued growing, according to the company’s financial report released late last week.
The company’s gross profit margin also decreased to 6.4% in the first quarter, down from 6.8% in the same quarter a year ago.
Foxconn’s pre-tax profits, however, grew 20.9% year-on-year to NT$6.57 billion in the first quarter, according to the release. After taxes, the company’s first-quarter earnings totaled NT$5.68 billion, or NT$2.25 per share.