Rechi Precision earned NT$1.03 per share in Jan.-June

Taipei, Aug. 1, 2003 (CENS)--Rechi Precision Co., Ltd., a main local manufacturer of compressors of air conditioners listed on the local over-the-counter bourse, scored earnings per share (EPS) of NT$1.03 for the first half of this year.

Together with its subsidiaries in mainland China, Rechi Precision rang up total revenue of NT$2.3097 billion in the first half of this year, a whopping rise of 135.22% from the same period of last year.

Meanwhile, the company reaped six-month pretax profit of NT$195 million, dropping by 11.36% from the NT$220 million posted in the same period of last year and attaining 80.9% of the goal for this year. The six-month pretax profit was equivalent to EPS of NT$1.03.

Thanks to booming sales of air conditioners in the domestic market this summer, Rechi Precision expects good business performance this quarter and is likely to adjust up its financial projection for this year at the end of this quarter.

Of its annual revenue, 60% was scored in peak sales period and 40% in the other months. To increase sales revenue, especially during the off-season period, Rechi Precison has started production of compressors of refrigerators and dehumidifiers in addition to those of air conditioners.

The company has so far delivered 200,000 compressors of refrigerators to Whirlpool and 200,000 compressors of dehumidifiers to Fedder.