Tong-Tai Machine saw whopping pretax profit growth in two months

Taipei, March 18, 2003 (CENS)--Tong-Tai Machine & Tool Co. said yesterday its pretax profits totaled NT$28.45 million in the first two months of the year, a whopping growth of 152.65% from the same period a year earlier and translating into earnings per share (EPS) of NT$0.43.

Tong-Tai has specialized in the manufacture of varied machining centers, high speed PCB (printed circuit board) drilling machines, CNC (computer numerically controlled) lathes, and fiber coupling machines in recent years. It scored revenue of NT$141 million in February alone, up 21.77% from the same month of 2002.

During the January-February period, the firm's revenue totaled NT$281 million, an increase of 20.49% from the same period of 2002. Its pretax profit stood at NT$16.23 million in February, up 367.18% from the same month a year earlier.

Regarding foreign orders, the figure reached NT$442 million as of the end of February, up 82.87% from the same period of 2002. The firm now keeps follow-up orders worth NT$820 million in hand, paving the way for increased revenue for the year, compared with 2002.

In 2002, the firm posted pretax profit of NT$199 million, up 0.92% from 2001 and reaching 115% of the target set for last year. Its pretax EPS stood at NT$3.02.