Fu Sheng Industrial saw new high revenue in December

Taipei, Jan. 7, 2003 (CENS)--Due to the peak season for golf head orders, Fu Sheng Industrial Co. raked in revenue of NT$859 million in December, a new monthly high in recent years, executives of the firm said yesterday.

The local golf head giant scored revenue of NT$8.08 billion in 2002, up 55.16% from 2001. This is the firm's best performance ever seen in recent years.

In the first three quarters of 2002, the firm's pretax profit totaled NT$1.53 billion, reaching 70.3% of the earnings goal for last year. Its pretax profit were expected to grow significantly in the fourth quarter, compared with the preceding quarter, paving the way for the company to score after-tax earnings per share (EPS) of NT$3.57.

Regarding 2003, the firm expects that deliveries will grow about 15% from 2002 due to increasing golf head orders.

Meanwhile, Fu Sheng's air compressor department recently received orders from mainland China. Its electronics department will also fare well beginning in 2003.

Market sources said that Fu Sheng would enjoy sharp business growth in 2003, with revenue to hit the NT$9 billion mark. The firm expects to maintain a gross profit rate of 30% and a brighter profit picture than 2002 this year.