Tri Ocean leads in 2003 net EPS goal among listed textile makers

Taipei, May 5, 2003 (CENS)--Tri Ocean Textile Co., Ltd., among four listed local textile manufacturers, ranks first in projected net (after-tax) earnings per share (EPS) for 2003 with NT$1.91.

The other three companies are Honmyue Enterprise Co., Ltd., Eclat Textile Co., Ltd., and Kwang Ming Silk Mill Co. Kwang Ming is listed on the local over-the-counter bourse, while the other three are listed on the Taiwan Stock Exchange.

Tri Ocean produces filament yarn, textured yarn, and fabric. The company projects revenue of NT$1.544 billion, net operating profit of NT$170 million, pretax profit of NT$172 million (soaring by 207.14% from the NT$56 million posted in 2002), after-tax profit of NT$131 million (up 191.1% from NT$45 million), and net EPS of NT$1.91 for this year.

Honmyue is a producer of industrial fabric, home furnishing & outdoor fabric, and apparel fabric. The company's 2003 financial forecast is as follows: revenue of NT$3.667 billion, net operating profit of NT$205 million, pretax profit of NT$196 million, after-tax profit of NT$144 million, and net EPS of NT$1.39 based on the capital of NT$1.036 billion after ex-right.

Honmyue raked in pretax profit of NT$45.59 million in the first quarter, growing by 28.86% from the NT$35.38 million posted in January-March 2002 and translating into EPS of NT$0.56. The company has decided to deal out a dividend per share of NT$1.0, NT$0.7 in stock and NT$0.3 in cash, for last year's operation and will issue 15 million new shares and corporate bonds of NT$300 million to raise more funds.

Eclat produces fabric and garments. The company predicts the following financial targest for this year: revenue of NT$3.539 billion, net operating profit of NT$191 million, pretax profit of NT$161 million (jumping by 40.0% from the NT$115 million recorded last year), after-tax profit of NT$120 million (up 36.36% from NT$88 million), and net EPS of NT$1.35.

Kwang Ming specializes in producing gray fabric used to make bridal gowns. The company foresees revenue of NT$742 million, net operating profit of NT$64.4 million, pretax profit of NT$66.27 million, after-tax profit of NT$52.27 million, and net EPS of NT$1.74 based on capital of NT$300 million for this year.

Kwang Ming posted net operating profit of NT$14.97 million, pretax profit of NT$15.71 million, after-tax profit of NT$13.31 million, and net EPS of NT$0.44 last quarter. The company will distribute a dividend per share of NT$1.8 all in cash for 2002 operation.