| Hon Hai Q4 Profit Drop 'Disappointing' |
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| Written by Administrator | |||
| Friday, 06 March 2009 11:45 | |||
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TAIPEI -- Hon Hai Precision Industry's (Foxconn) 2008 unconsolidated net profit fell 29% even as its unconsolidated revenue rose 19% to an all-time high of nearly NT$1.5 trillion. For the year ended Dec. 31, the contract electronics assembler reported net profits of NT$55.13 billion ($1.59 billion) on sales of NT$1.47 trillion ($42.3 billion in today's dollars). The fourth-quarter net profit was down 65% year-over-year to NT$9.3 billion, while revenue was up 3% to NT$426.4 billion ($12.24 billion). Daiwa Institute of Research analyst Calvin Huang called the results "disappointing," adding, "It's certain 2009 net profit will be worse than 2008." The world's largest contract electronics assembler, which makes everything from connectors to bare circuit boards to assemblies and enclosures, is coming under increasing scrutiny by analysts who think it needs to outsource some programs. Huang told Dow Jones that Hon Hai's business model is too vertically integrated. "Its vertical integration model means it makes everything by itself. This is more expensive and that also means a fixed expenditure every month."
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| Last Updated on Friday, 06 March 2009 16:24 |
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Online MSDS Management Solution manages system independently and bulk uploads hundreds of documents in minutes from anywhere in a secure environment. Is a hosted service. Does not require specialized software installation, new hardware or IT resources. Future improvements are automatically available at no cost. Can reliably access required MSDSs 24/7/365 globally; can archive obsolete MSDSs for 30+ years. Quick Search function displays results in real time. No restriction for the number of documents that can be loaded for each product; products and documents can be added individually or in...
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