Asset gain sees Amtran’s net profit rise

COMPETITION:Taiwanese contract LCD TV makers saw shipments boosted by orders from Chinese brands last year, but this year Chinese rivals are expected to do better

Tipei Times
Date: Mar 21, 2016
By: Lisa Wang / Staff reporter

Amtran Technology Co (瑞軒), which makes slim-screen TVs for Xiaomi Corp (小米), said net profit more than doubled last year, primarily supported by a lavish asset gain.

Net profit expanded to NT$1.74 billion (US$53.5 million) last year, compared with NT$845 million in 2013, according to a company statement released on Friday. That translated into earnings per share of NT$2.12 last year, up from EPS of NT$1.01 a year earlier.

Amtran attributed last year’s strong growth to “strong non-operating income, including foreign exchange gains and profits from its holding of Vizio Inc.”

The non-operating gains include profits from Vizio’s US$172 million initial public offering on the NASDAQ in July last year. Amtran holds about a 20 percent share of Vizio, one of the largest TV vendors in North America.     [FULL  STORY]

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