TPK posts profit despite slow season

‘ROBUST GROWTH’:TPK’s operations bottomed out last year and the firm would see significant improvement this year, chief executive officer Michael Chung told investors

Taipei Times
Date: Feb 17, 2017
By: Lisa Wang / Staff reporter

TPK Holding Co (宸鴻), which supplies touch panels for Apple Inc’s iPhones and Apple Watches, yesterday said it turned a profit for the second quarter in a row, as a substantial asset disposal gain helped stem operating losses during the traditionally slow season.

Net profits plunged 57 percent to about NT$296 million (US$9.61 million) in the quarter ended Dec. 31 last year, compared with NT$684 million in the previous quarter, a company financial statement showed.

However, the company last quarter swung into an operating loss of NT$45 million from operating income of NT$1.27 billion the previous quarter.

The operating loss was offset by a non-operating gain of NT$564 million, the statement said.    [FULL  STORY]

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