Quanta Computer second quarter net profit 159 million dollars

Beijing Time August 31 news, according to foreign media reports, Quanta Computer Tuesday released its second-quarter earnings. The second-quarter profit of Quanta was not as expected and the current quarter's expected shipments were lowered, thanks to weak markets in developed economies.

Quanta Computer net profit for the second quarter was NT $5.1 billion (USD 159 million), up 4% per cent year-on-year. According to a Bloomberg survey of 16 analysts, the average analyst forecasts a profit of NT $5.5 billion.

Quanta's gross profit margin in the second quarter fell from 4.1% in the first quarter to 3.4%, mainly because of rising material costs and component shortages. Quanta Computer's second-quarter revenue was NT $295 billion (USD 9.2 billion), up 63% per cent year-on-year. Notebook shipments in the second quarter were 13.7 million units, up 25% from the first quarter.

Liang, general manager of Computer C.C, said in a press conference in Tuesday that Quanta's third-quarter shipments had not changed much, or declined slightly, 10% to 20% less than in the second quarter as the global economy weakened. Elton Yang, chief financial officer of Quanta Computer, said the company is expected to meet the expected annual shipments of 50 million laptops.