Hiwin, Tongtai See EPS Hit Historic High in First 3 Quarters
Taipei, Oct. 28, 2010 (CENS)--Hiwin Technologies Corp. and Tongtai Machine & Tool Co., both Taiwan`s leading manufacturers of machine tools, saw after-tax net earnings pre share reach NT$4.84 and NT$2.68, respectively, in the first three quarters of this year.
As Taiwan`s largest manufacturer of key components for machinery, Hiwin scored NT$5.545 billion in consolidated sales for the first three quarters of this year, up 256.71% year-on-year. The company reported NT$1.108 billion in after-tax earnings for the first three quarters of this year, shooting up 850% from a year earlier.
Over the past several years, Hiwin has got involved in the green-energy and solar photovoltaic industries. The company is expected to benefit from the establishment of four solar power plants in California state of the U.S. as construction of these plants will need more than 10 million sunbeam-tracking systems.
Hiwin said its actuators for the sunbeam-tracking systems have won certifications from European leading solar power plants. At present, Hiwin is having talks with U.S. well-renowned solar power plants for mutual cooperation.
Thanks to its efforts to expand production capacity and the effect of order shifting caused by the sharp appreciation of the Japanese yen against the U.S. dollar, Hiwin has seen orders piled up through the end of this year.
It is expected that Hiwin`s monthly sales will hit a historic high of NT$800 million in October, making it to raise annual earnings goal from NT$6.2 to NT$7 per share.
A leading manufacturer of PCB (printed circuit board) drilling machines and CNC (computerized numerically controlled) machine tools, Tongtai registered NT$5.033 billion in consolidated sales for the first three quarters of the year, up 287.72% from NT$1.752 billion year-on-year. The company posted NT$555 million in after-tax earnings for the first three quarters of this year, up 16.8-fold year-on-year.
The company believed its sales and earnings already peaked in the third quarter of this year and will see a slowdown in the fourth quarter. But the company argued its sales of PCB drilling machines, rather than machine-tool line, will continue trending upward in the months to come.
CENS by Ben Shen 10/28/2010