Tong-Tai Machine & Tool to mete out dividend of NT$1.6 per share

Taipei, April 1, 2003 (CENS)--Tong-Tai Machine & Tool Co. said it would distribute cash and stock dividend of NT$0.8 each for a total of NT$1.6 per share, for its 2002 performance.

Tong-Tai posted after-tax profits of NT$155 million, or an earnings per share (EPS) of NT$2.34, in 2002. Its pretax profits stood at NT$28.45 million in the first two months of this year, up 152.65% from the same period a year earlier and translating into EPS of NT$0.43.

A specialized maker of CNC machining centers, high speed PCB drilling machines, CNC lathes, and various machine tools, Tong-Tai scored revenue of NT$141 million in February alone, up 21.77% from the same month of 2002, indicating that the firm has recovered from the prolonged economic downturn. Its revenue totaled NT$281 million in the first two months of the year, up 20.49% from the same period a year earlier.

As of the end of February, the firm had received orders worth NT$442 million, a sharp growth of 82.87% from the same period of 2002. It still has undigested orders worth NT$820 million in hand, paving the way for the firm to secure good revenue performance in 2003.

Meanwhile, Tong-Tai expects to make additional investment of US$148,000 (about NT$5.1 million) in its Kunshan plant in Jiangsu Province and another investment of about NT$20 million in its affiliate in Shanghai.