Fu Sheng Industrial aims at net EPS of NT$4.22 for 2003

Taipei, June 2, 2003 (CENS)--Fu Sheng Industrial Co., Ltd., the largest manufacturer of golf heads in Taiwan, projected its net (after-tax) earnings per share (EPS) at NT$4.22 for 2003, according to financial projections recently issued by the firm.

Fu Sheng is also the largest OEM (original equipment manufacturing) producer of golf heads around the world. In addition to golf heads, the company makes air compressors and lead frames used in packaging Ics (integrated circuits).

Fu Sheng's financial projections for this year are as follows: revenue of NT$9.2449 million, net operating profit of NT$2.0267 billion, pretax profit of NT$2.7224 billion, after-tax profit of NT$2.2442 billion, and net EPS of NT$4.22.

Among the top four local makers of golf heads, Fu Sheng ranks second in terms of 2003 net EPS goal, next to the NT$10.85 for Advanced International Multitech Co., Ltd. But higher than the NT$7 for O-Ta Precision Industry Co., Ltd. And the NT$2.01 for Dynamic Precision Casting Mfg. Co., Ltd.

With annual production capacity of 12 million golf heads, Fu Sheng currently has a global market share of over 15% for all kinds of golf heads and at least 50% for expensive titanium-alloy golf heads.

At the same time, Fu Sheng is the largest producer of air compressors in the mainland Chinese market. Thus, many Japanese counterparts hope to cooperate with Fu Sheng for the mainland market via the firm's OEM production and/or its marketing channels.