Rechi Precision’s Combined Sales Surge 9% in First 4 Months

Taipei, May 29, 2012 (CENS)-- Rechi Precision Co., Ltd, a large-sized maker of air compressors in Taiwan, scored combined sales of NT$ 5.87 billion (US$196 million) in the first four months of this year, up 9.09% year on year.

The firm’s net sales of air compressors reached 4.08 million units in the first four months, 6.67% higher than that of last year. The company’s total shipments for this year are expected to hit a new high of 12.7 million units, with an annual growth of over 10%, which may raise annual revenue and profits to new highs, according to company sources.

Rechi said that with the peak season of air conditioners coming and influx of orders from leading manufacturers in Europe and the U.S. as well as Haier Group and TCL Corp. of China, its shipments and sales revenue may surge further in the second quarter, stressing it is one of the top five air compressor makers globally in terms of production volume and aims to rank among the top three within three years.

The company’s combined revenue in April showed a year-on-year growth of 6.58% to reach NT$1.59 billion (US$53.13 million). Institutional investors noted that the sales revenue of Rechi’s air compressors is likely to hit a new high in the second quarter, a traditionally high season for air conditioner sales.

The company’s air compressor shipment posted a sharp annual growth of 22.61% to reach 11.59 million units in 2011, breaking the level of 10 million units for the first time. As a result, its combined revenue hit a new high of NT$16.79 billion (US$559.8 million) last year, with after-tax net profits of NT$815 million (US$27.17 million) and earnings per share (EPS) of NT$2.03.

Rechi’s financial statement for the first quarter appears promising, with combined sales revenue of NT$4.24 billion (US$141.47 million), after-tax net profits of NT$262 million (US$8.73 million) and EPS of NT$0.61, all of which hit record highs.

The company has also entered the European market for clothes-dryer air compressors to achieve popularity among users since the last year, with customers including the top-10 European home appliances brands.