Acer Q2 Financial Results: Consolidated Revenue NT$81.34B (US$2.72B) up 6% on-quarter; Operating Income NT$662M (US$22.14M); PAT NT$485M (US$16.2M); EPS NT$0.18
TAIPEI, TAIWAN (2014-08-07)
Acer announces its Q2 2014 financial results following approval by the Board of Directors. The consolidated revenue of NT$81.34B (US$2.72B) was down 9% on-year, but increased by 6% on-quarter, demonstrating two consecutive profitable quarters. Operating income was NT$662M (US$22.14M), PAT was NT$485M (US$16.2M), and EPS was NT$0.18.
In Q2, Acer’s operating margin of 0.81% greatly exceeded the Q1 result of 0.17% and is the highest since Q2 2011. The gross profit of NT$7.53B (US$251.63M) was also the highest since Q2 2013 when the IFRS (International Financial Reporting Standards) was adopted, demonstrating the positive results of the company transformation.
According to IDC’s Q2 data, Acer significantly beat the worldwide total PC market growth of 2.2% with 14.3% on-quarter. Acer also reduced its Q2 operating expenses by 14.7% on-year through sensible cost control.
For 1H 2014, Acer’s consolidated revenue totaled NT$158.06B (US$5.28B), down 12.8% on-year. Operating income reached NT$790M (US$26.4M) with operating margin of 0.5%; PAT was NT$486M (US$16.24M) more than doubling its growth on-year; and EPS was NT$0.18; the results further point to Acer’s positive direction.
With back-to-school promotions and global new product announcements in 2H, Acer is optimistic of its turnaround progress and expects the Q3 revenues to maintain the growing momentum. Notes:
The spot rate as of June 30, 2014 was used — US$1: NT$29.915.
Acer Inc. consolidated revenue includes revenues from other companies in which Acer Inc. has 50% or more ownership, and already deducts any revenues between Acer Inc. and these companies to avoid double-counting.