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Asustek's Q4 net income plummets on exchange losses
【Economics】2015-02-13  15:42:11
Taipei, Feb. 13 (CNA) Asustek Computer Inc. (華碩) reported a decline in its fourth-quarter net income on Friday as the Taiwanese PC maker registered higher losses than expected in foreign exchange.

The company posted net income of NT$4.51 billion (US$144 million) for the crucial holiday season, down 22 percent sequentially and down 21 percent from a year earlier.

It attributed the decline partly to a foreign exchange loss of NT$713 million in the three months ending in December, led by currency depreciation in Russia, which continued off its losses of NT$359 million in the third quarter.

Asustek's earnings per share in the fourth quarter were NT$6.07, in line with the range of NT$6-NT$7 that analysts had expected.

On the up side, revenues were NT$127.06 billion, up 12 percent from the previous quarter and up 6 percent year-on-year.

For the whole of 2014, Asustek reported total revenue of NT$436.26 billion, an increase of 4 percent from 2013. But the company's annual net income slid to NT$19.47 billion last year with earnings of NT$26.21 per share.

Asustek shipped 4.5 million smartphones during the fourth quarter, beating its target of 4 million units. It also shipped 5.7 million notebooks and hybrid devices and 2.8 million tablets.

Looking ahead to the first quarter of 2015, Asustek expects to ship 5.6 million PCs and 5 million mobile devices.

Shares in Asustek gained 0.31 percent to NT$324.50 at the close in Taipei Friday.

(By Jeffrey Wu)
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