Rechi Sees EPS Hit All-time High of NT$0.61 in Q1
2012/04/27 | By Steve ChuangTaipei, April 27, 2012 (CENS)--Unaffected by a faltering market for air conditioners in China, the Taiwan-based Rechi Precision Co., Ltd., a manufacturer and exporter of compressors and motors, achieved a record high of NT$0.61 in EPS (earnings per share) for the first quarter of this year, according to the company's latest financial statement.
The statement indicates that the company scored sales revenue of NT$1.465 billion, pretax profits of NT$311 million and net profits of NT$203 million in the first quarter of this year, with combined revenue, combined pretax profits and combined net profits of NT$4.244 billion, NT$399 million and NT$262 million, respectively. All these figures hit the company's single-quarter highs.
Worth mentioning is that the company, which just earned NT$851 million in net profits, or NT$2.03 per share, as a record high in 2011, has recently decided to distribute dividends of NT$1.5, also a record high, to shareholders this year, including NT$1.2 in cash and NT$0.3 in stocks. This shows the company's business has actually been thriving.
Rechi's directors pointed out that the company gained steam mainly on exports of compressors in the first quarter of this year, and, despite seasonal recessions of its industry, has kept busy receiving new contract orders for a time. The company's production lines have been rolling at 100% capacity in April, and almost fully booked by influx of new orders for May.
Expanded capacity in China is expected to keep injecting energy to Rechi's current prosperity. Last year, the company spent nearly NT$2 billion building a new production line each at its factory in Huizhou and Qingdao, which, with combined annual output of 1.5 million compressors, are scheduled to be operational in mid-May and mid-June, respectively.
Although opining that this year the compressor industry is less likely to fare as well as it did in 2011, the company, which sold over 11.59 million compressors in the year, is still confident of achieving a 10% growth in its combined sales in 2012, and aims to achieve aggregate sales of 100 million units in the next two years.
Rechi's Operating Performance | |||
Year | Combined Revenue | Non-combined Net Profits | Non-Combined EPS |
2008 | NT$9.455 B. | - NT$183 M. | - NT$0.49 |
2009 | NT$6.970 B. | - NT$234 M. | - NT$0.64 |
2010 | NT$12.630 B. | NT$454 M. | NT$1.20 |
2011 | NT$16.701 B. | NT$851 M. | NT$2.03 |
Q1, 2012 | NT$4.244 B. | NT$203 M. | NT$0.61 |