GIS sees Q1 profit soar to NT$353.05m

ESTIMATES EXCEEDED:The company expects shipments and revenue to pick up this month and next month, supported by the launches of customers’ new products

Taipei Times
Date: May 10, 2016
By: Lisa Wang / Staff reporter

General Interface Solution Holding Ltd (GIS, 業成), which supplies touchpanels for Apple Inc’s iPhone and iPad series, yesterday posted stronger-than-expected first quarter net profits, thanks to an improved gross margin.

Net profits grew ninefold to NT$353.05 million (US$10.89 million) during the quarter ending March 31, compared with NT$37.36 million in the same period last year. That translated into earnings per share of NT$1.13, up from NT$0.13 a year ago.

The figure exceeded the NT$297 million estimated by Daiwa Capital Markets analyst Kylie Huang (黃奎毓). Huang gave a “Buy” rating on GIS, in expectation of a robust annual net profit growth of 29 percent, benefiting from growing adoption of 3D touch and pressure touch sensors in new iPhone models.

Gross margin climbed to 8.62 percent last quarter from 5.07 percent in the previous quarter, beating Huang’s estimate of 7.6 percent.     [FULL  STORY]

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