Packaging material supplier Chang Wah swings to loss in 3Q14
Patty Wang, Taipei; Jessie Shen, DIGITIMES [Monday 17 November 2014]
IC-packaging material and equipment supplier Chang Wah Electromaterials (CWE) has reported pre-tax losses of NT$17 million (US$553,000) for the third quarter of 2014, as affiliate WellsTech Optical recognized bad debt losses during the quarter.
WellsTech has NT$135 million of uncollected accounts receivable from Wintek, revealed Chang Wah, which holds an about 37% stake in the maker of optical films.
Chang Wah generated consolidated revenues of NT$4.58 billion in the third quarter of 2014, up 2.5% sequentially and 9.2% on year. Gross margin came to 6.6% compared to 5.69% in the second quarter and 9.9% in third-quarter 2013.
Market sources expect Chang Wah to swing to profits in the fourth quarter, as improving profitability at the company's affiliates will make a positive contribution.
HowWeih Precision Technology (Shenzhen), another affiliate of Chang Wah, has reportedly landed more orders of metal parts from smartphone vendors. HowWeih is also shipping its products for wearable devices, the sources indicated.
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