Rechi Precision hit record high revenue in March

Taipei, April 15, 2003 (CENS)--Rechi Precision Co., Ltd., a main local manufacturer of electric compressors listed on the local over-the-counter bourse, rang up aggregate revenue of NT$460 million in March, the highest monthly figure ever on record.

The largest producer of compressors used in air conditioners, Rechi Precision has shifted labor-intensive assembly lines of the product, the rear section of the whole manufacturing process, from Taiwan to Guangdong Province of mainland China to minimize production cost.

Together with its mainland factory, Rechi Precision's aggregate revenue for last month rose by 17% from March last year. The company's total revenue for the first quarter of this year came to NT$1.211 billion, going up by 22% from the same three months of last year and the historically highest quarterly level.

Rechi Precision delivered 406,000 compressors last month, growing by 29.71% from the 313,000 sets sold in March 2002. The company sold 1.039 million compressors during the first quarter of this year, rising by 30.53% from the 796,000 sets delivered in the same period of last year.

Despite the growth in aggregate revenue, Rechi Precision's revenue of NT$358 million for last month and thee-month revenue of nearly NT$1.0 billion from its domestic operation slipped by 7% and 1%, respectively, from the corresponding periods of 2002.