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Acer Starting Out of The Red, Earns US$ 37K in Q1
By Korbin Lan
Published: May 09,2014
TAIPEI, Taiwan－ Acer announces the Q1 2014 financial results with consolidated revenue of US$ 2.51B, operating income of US$ 4.2M, profit after tax (PAT) of US$ 37K, and earnings per share (EPS) of NT$ 0.0004, ended consecutive losses in three quarters.
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Acer achieved a surplus in PAT despite the decline in consolidated revenue by 11.4% on-quarter and by 16.6% on-year.
The operating income increased on-quarter after three consecutive quarters of losses, and increased by almost NT$100M (US$3.3M) owing to the effective control of inventory and costs, stabilizing gross profit, and other factors.
Acer said that the first quarter profit was mainly due to the appropriate able to control inventory and costs, the gross profit margin also began to climb.
In addition, Acer’s Board approved the cancellation of 55.6 million treasury stocks (or 1.96% of current total outstanding shares), resulting in a new equity capital of NT$27.8B (US$910.9M) and net book value per share of NT$21.2.
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