Fu Sheng Industrial posted new high revenue in Q1

Taipei, April 4, 2003 (CENS)--Due to stable delivery of golf heads and increasing demand for air compressors, Fu Sheng Industrial Co. scored revenue of NT$2.38 billion in the first quarter, a historical high figure in recent years.

In March alone, the firm raked in revenue of NT$816 million, the third highest monthly figure and up 23.91% from the same month a year earlier. The revenue from golf heads stood at NT$498 million, up 36.73% from the same month of 2002.

Meanwhile, the revenue from air compressors jumped to a new high of NT$178 million in March due to hectic demand at home and abroad, up 46.39% from the same month of 2002. But the revenue from lead frames declined 19% to reach only NT$140 million last month.

In the first quarter, the firm's overall revenue totaled NT$2.38 billion, up 31.3% from the same period of 2002.

Beginning in the first quarter, Fu Sheng's revenue from golf heads has become stable. Its sales of air compressors remained the highest in the mainland China market.

Fu Sheng estimated that mainland China would post an economic growth rate of between 7% and 10% in 2003. The production volume of air compressors at its mainland China plant is expected to grow between 15% and 20% in 2003, with revenue ratio to exceed 20% out of overall revenue for the first time.

In related news, Fu Sheng is scheduled to hold its shareholders meeting on April 5. The firm expects to distribute dividend of NT$3.6 per share for its 2002 performance, including cash dividend of NT$3 and stock dividend of NT$0.6.