Tongtai to See EPS Reach NT$4.66 in 2011

Taipei, May 19, 2011 (CENS)--Driven by influx of orders and introduction of innovative products, Tongtai Machine & Tool Co., one of Taiwan's leading manufacturers of dedicated machine tools, will see after-tax earnings reach NT$4.66 per share this year, as well as NT$7.6 billion in sales this year, up 15% year-on-year.

Thanks to smooth shipments of laser PCB (printed circuit board) drilling machines, Tongtai is expected to see monthly sales reach NT$400 million and NT$500 million in April and May, respectively.

The company believes China's demand for machine tools will continually grow for the rest of this year due to the booming automobile market. In addition, the company's sales to contract manufacturers of electronic products will also continue to grow as many domestic electronic firms are expanding capacities in China.

The maker reportedly received orders for 340 machining centers from an electronics firm in Taiwan, with the order to be gradually shipped between May and August this year to drive sales.

A survey shows worldwide shipments of laser PCB drilling machines totaled 250 units in 2010, and demand for such items will reach over 700 units this year, up 180% year-on-year.

Tongtai said it will sell laser PCB drilling machines at lower price than Japanese competitors, forecasting to ship 80 laser PCB drilling machines this year to generate NT$1.2 billion in sales.