Arcadyan Launches IPO on Taiwan Stock Exchange

Taipei, March 12, 2009 (CENS)--Arcadyan Technology Corporation, Taiwan's most profitable supplier of Internet and Communications technology and relevant products, yesterday began public trading on the Taiwan Stock Exchange (TWSE) bearing the 3596 listing code number.

Founded in 2003, Arcadyan has become a member of the Compal Electronics Group in 2006 when original big stockholder Accton Technology Corp. sold 70% stakes in Arcadyan to Compal.

Arcadyan listed on the TWSE with the IPO price setting at NT$32.3 (US$0.93 at US$1:NT$34.5) per share. Thanks to its enviable profitability, the company saw its shares shot up 116.71% to close at NT$70 (US$2.02) in the first trading day.

Lee Hong-yuh, president of Arcadyan, noted the first quarter will be the valley of the economy and his company would continue to see year-on-year growth in sales for the whole of this year.

Thanks to the cash injection from parent Compal Group, Arcadyan has seen improvement in capital structure. With capitalization of NT$1.075 billion (US$31.15 million), Arcadyan had cash of NT$937 million (US$27.15 million) on account at the end of last year.

Arcadyan is a specialist in the fields of broadband access, multimedia and wireless infrastructure, creating an innovative approach to broadband access technology development and optimizing audio/video streaming quality. It is capable of providing solutions for telecom operators, Internet service providers and consumer electronic companies on the OEM and ODM (original equipment/design manufacturer) basis.

Lee said his company provides end-to-end solutions that help customers differentiate their products in the marketplace. To cope with customers' special requirements, the company delivers a full line of broadband access and digital home solutions, such as xDSL, IAD/router, access points, home gateways, 802.11a/b/g/n client solutions, antenna, Wi-Fi modules, among others.

Arcadyan scored NT$105.42 billion (US$3.05 billion) in sales with earnings per share reaching NT$7.44 (US$0.21) in 2008. The company said the Internet protocol set-top-box will be one of the growth engine this year. In addition to grabbing the IP STB business opportunities, the company will spare no efforts to develop such promising markets of mainland China and India this year.