Hon Hai's Sept. Revenue up Less than Expected 8% MoM

Taipei, Oct.16, 2012 (CENS)--Hon Hai Precision Industry Co. Ltd., the world's largest electronic contract manufacturer, saw non-consolidated revenues in September reach NT$240.537 billion (US$8.018 billion), up 8.2% month on month (MoM), slightly less than expected; with non-consolidated revenues in the third quarter down 2% quarter on quarter (QoQ), failing to benefit from peak season. Compal Electronics Inc., a major laptop contract maker globally, saw consolidated revenues in September up 24.7% MoM to NT$64.52 billion (US$2.15 billion), the highest growth among Hon Hai, Quanta Computer Inc., Acer Inc., and Asus Computer Inc.

Market insiders initially expected Hon Hai to see over 10% MoM in revenues in September. A representative of the firm admitted that Apple Inc.'s iPhone 5 shipment has yet to peak in September, limiting Hon Hai's revenue growth. Despite generally outlook amid electronic makers, Hon Hai still believes overall shipments will gradually increase, with the unexpected shipments in September due to insufficient component supplies.

Hon Hai saw non-consolidated revenues in September rise 8.46% year on year (YoY), with NT$711.543 billion (US$23.72 billion) in the third quarter, down 2.55% from a quarter earlier, totaling US$74.37 billion in the first three quarters, up 20.37% YoY.

Foxconn Technology Co., a subsidiary of Hon Hai, saw consolidated revenues in September shoot up 38.4% MoM to NT$16.825 billion (US$560.83 million), a new high in 35 months due to increasing orders for Wii U from Nitendo Co., totaling NT$38.531 billion (US$1.28 billion) in the third quarter, up 105.8% QoQ; with NT$78.217 billion (US$2.61 billion) in the first quarters, down 10.7% YoY.

Driven by soaring shipments of laptops, Compal saw consolidated revenues in September grow 24.7% MoM to NT$64.52 billion (US$2.16 billion), up 12.91% YoY; totaling NT$172.35 billion (US$5.745 billion) in the third quarter with a 4.4% quarterly growth. Laptop shipments (including tablet PCs) rebounded remarkably to four million units in September, surging 29.03% MoM, totaling 10.1 million units in the third quarter with a 7.45% increase QoQ, in line with predictions.