Polytronics Technology to pay out NT$3.0 for 2002 dividend

Taipei, March 13, 2003 (CENS)--Polytronics Technology Corp., a main local manufacturer of thermistors (thermal resistors) listed on the local over-the-counter bourse, will distribute a dividend per share of NT$3.0, NT$2.5 in stock and NT$0.5 in cash, for its 2002 operations.

Polytronics Technology is the largest producer of PPTC (polymeric positive temperature coefficient) thermistors in Asia. The company's PPTC thermistors are used to protect electrical current for motherboards, notebook PCs, cellular phones, telecommunication equipment, and car electronic products.

The company's board of directors, at a meeting held yesterday, consented to the dividend distribution and decided to hold this year's shareholder meeting on June 11. The board of directors also passed the company's 2003 financial projection as follows: revenue of NT$610 million (up 46% from last year), after-tax profit of NT$150 million, and net (after-tax) earnings per share (EPS) of NT$3.74 based on the capital of NT$401 million.

Polytronics Technology rang up revenue of NT$77.93 million for the first two months of this year, jumping by 35% from January-February last year. The company reaped two-month pretax profit of NT$22.39 million, equivalent to EPS of NT$0.56.