Compressor Maker Rechi's EPS in 2012 to Challenge US$0.07

Taipei, Nov.27, 2012 (CENS)--Rechi Precision Co. Ltd.'s chairman J.X. Liu pointed out that the firm will ship more than 12 million compressors in 2013, up 10% year on year (YoY). Institutional investors predict the firm's EPS (earnings per share) in the fourth quarter will improve from the third, challenging NT$15 billion (US$500 million) in revenues and NT$2.2 (US$0.07) in EPS in 2012, as well as historical high profits.

Felix Chen, founder of Rechi, indicated that due to slower economic growth in China in 2012, the firm's shipments this year lags that of 2011; however, Rechi is expected to move from the world's fifth largest compressor maker to a top-three with shipments exceeding 15 million units within three years.

Liu added that with ongoing capacity expansion of two new production lines in Qingdao, China, the firm is expected to improve capacity remarkably in 2013.

Rechi saw consolidated revenues in the first three quarters down 7% year on year to NT$11.761 billion (US$392.03 million), but up 16% from a year earlier in both gross profit margin and net profits, with a record high of NT$1.71 (US$0.057) in EPS. The firm sold in the first 10 months 8.942 million compressors, generating NT$12.74 billion (US$424.67 million) in consolidated revenues.

Rechi's shipments of compressors in the fourth quarter are predicted to recover and reach 11 million units this year, slightly down from 11.59 million units in 2011.

Rechi's new general manager S.M Chen noted that the firm is not just a manufacturer of compressors, but will accelerate research and development in energy-saving products with its core capability and technology.