BenQ posts decline in Q1 earnings
Apr 29, 2005
The firm said the loss of a major customer was the main reason for the result and added that performance this quarter should be flat.
BenQ Corp, a leading computer electronics maker, yesterday said first-quarter earnings plunged to only one-tenth of their level a year ago, and blamed the loss of a major handset customer. No significant recovery is in sight for the near-term, the company said.
During the January-March quarter, earnings slid to NT$300 million from NT$3.1 billion a year earlier. Non-operating income contributed the bulk of it, at NT$290 million, with operating income accounting for a mere NT$50 million. Earnings per share dropped to NT$0.13 from NT$1.48 year-on-year. Revenue was NT$32.33 billion.
Losses from the high-margin mobile phone segment, previously BenQ's cash cow, were the key behind the company's disappointing quarterly result, chief financial executive Alex Liu told reporters. BenQ did not reveal the figure.
source: Taipei Times