Hon Hai closes year on a positive note

RECORD-HIGH PROFITS:A robust fourth quarter lifted the iPhone assembler’s full-year results, thanks to improving production efficiency, yields and cost management

Taipei Times
Date: Apr 01, 2017
By: Lauly Li / Staff reporter

Hon Hai Precision Industry Co (鴻海精密), a key assembler of Apple Inc products, yesterday reported a record-high net income of NT$148.66 billion (US$4.9 billion) for last year, expanding by 1.22 percent from NT$146.86 billion a year ago.

The full-year results came as a surprise, as the company’s cumulative net profit in the first three quarters of last year plunged 14.94 percent year-on-year to NT$79.89 billion. Higher-than-expected earnings in the final quarter more than made up for disappointing results in the previous quarters.

Earnings per share were NT$8.6 last year, down from NT$9.42 the year before, as stock dividend distribution increased the company’s common shares by 10 percent to 170 billion.

The company’s consolidated revenue fell 2.81 percent to NT$4.35 trillion last year, its first annual contraction since its listing on the Taiwan Stock Exchange in 1991.

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