Teco's Profits Remains Leader Amid Household-appliance Makers

Taipei, Dec.5, 2012 (CENS)--Teco Electric & Machinery Co., Ltd., a major maker of household appliances and motors in Taiwan, saw earnings per share (EPS) in the first nine months of NT$1.22 (US$0.04) to lead Taiwan's top four household appliance makers, thanks to rising sales of motors and inverter household appliances.

C.Z. Chiu, general manager of Teco, pointed out that the firm's middle & large-sized motors and IE2, IE3 high-efficiency motors have generated remarkable profits in North America and Europe, with inverter household appliances having reached expectation in market share to keep gaining profits.

Despite sluggish global economic climate in the third and fourth quarters, Teco's operating margin in the first three quarters hit a new high in three years.

An institutional investor noted that Teco's new energy-saving inverter products in 2012 successfully boosted revenues; among which, inverter air-conditioners will reach annual sales target of 36,000 units soon, while sales of first-class efficiency-rated refrigerators are expected to grow more than 10% from 2011. Teco's competitively-priced 55-inch 3D TVs are expected to push revenues and EPS further in the fourth quarter.

Teco's “e-home” products combine resources from Teco and Tecom Co., Ltd., with orders reaching 10,000~20,000 units to NT$500 million (US$16.67 million) from Strait Construction Investment Holdings (SCI).

Chiu stated that “e-home” products will help Teco sell household appliances including air-conditioners, LCD TVs, and refrigerators, boosting the firm's operation comprehensively.