Hon Hai's 2011 Revenues Hit New High

Taipei, Jan. 13, 2012 (CENS)--Hon Hai Precision Industry Co., Ltd.'s revenues for the entire 2011, the fourth quarter and December hit new highs, with the annual result rising 19.89% year on year, the quarterly result soaring 37.75% sequentially, and the December result gaining 29.53% year on year.

The company had non-consolidated revenue of NT$316.9 billion (US$10.5 billion at US$1:NT$30) in December, NT$916.9 billion (US$30.5 billion) in the fourth quarter and NT$2.77 trillion (US$92 billion) throughout 2011.

The annual growth pace surpasses the 15% rate the company originally planned.

Industry executives originally expected the company's revenue for December would moderately decline following brisk shipments in the previous two months. They ascribed the better-than-expected December result mostly to strong sales of iPhones and iPads, which have been mostly manufactured at Hon Hai on subcontract basis.

Hon Hai executives attributed the company's strong sales in the fourth quarter mostly to robust demands in consumer-electronics, PC and telecommunications markets.

Outlook for the company's sales in the first quarter is linked to the Jan. 13 release of Apple iPhone 4S in mainland China. Industry executives expected a strong demand for the latest Apple smartphone in the mainland.

Inspired by the shinning 2011 results, industry executives estimated the company's revenue for the new year to rise in excess of NT$3 trillion (US$100 billion).

Compared with Hon Hai, Quanta Computer Inc., Taiwan's another leading contract manufacturer of electronics products, saw its consolidated revenue for December 2011 at NT$91.4 billion (US$3 billion), down 5.6% from the previous month and 4.8% from the same month of last year. Throughout 2011, the company had revenue totaling NT$1.8 billion (US$60 billion), down 1% year on year.

Hon Hai's other industry peers in Taiwan, including Acer Inc., and Compal Electronics Inc., all underwent recession last year. Acer's December revenue of NT$33 billion (US$1.1 billion) represented a 7.6% decline from a month earlier and its non-consolidated revenue for 2011, totaling NT$372.7 billion (US$12.4 billion), was off 23.52% year on year.

Compal had consolidated revenue of NT$52.8 billion (US$1.7 billion) in December and NT$692.3 billion (US$23 billion) in 2011, each representing an 11.6% decline from a month earlier and a 21% drop from the previous year.