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Inventec reports lower-than-expected earnings for 2014

Inventec reports lower-than-expected earnings for 2014

Taipei, March 24 (CNA) Taiwan's Inventec Corp. (???), one of the world's largest contract laptop makers, reported Tuesday lower annual earnings for 2014 than previously expected due to high research costs and losses from its solar business. Inventec's net profit stood at NT$6.666 billion (US$212.6 million) last year, translating into earnings per share (EPS) of NT$1.98, a slight rise from its EPS of NT$1.97 in 2013. The company's full-year revenue declined by 6 percent from the previous year to NT$435.6 billion in 2014, while its operating expense increased by 6 percent to NT$16.239 billion. In the fourth quarter of last year, Inventec posted net profit of NT$1.532 billion on revenue of NT$112.671 billion, representing an EPS of NT$0.53. Inventec Chief Financial Officer Yu Chin-pao (???) attributed the company's lower-than-expected earnings in 2014 partially to higher costs associated with its solar business. In the fourth quarter of last year, Inventec's solar business was affected by a U.S. Department of Commerce anti-dumping ruling on Taiwan's solar product exporters, which led to weak demand and higher costs for Inventec's solar products, Yu said at an investor conference. Shares of Inventec ended up 0.21 percent at NT$23.4 Tuesday in Taipei. (By Jeffrey Wu)


Updated : 2021-09-27 09:24 GMT+08:00