Co-Tech Copper Foil has reported net profits of NT$347 million (US$11.41 million) for the first quarter of 2017, increasing 19.33% on quarter and 556.86% on year. The earnings translated into an EPS of NT$1.63 for the quarter.
Gross margin stood at 28.89% in the first quarter of 2017, up 2.73pp from the previous quarter and 17.8pp from a year earlier. Revenues for the January-March period totaled NT$1.801 billion, up 14.29% on quarter and 58.22% on year.
Although Co-Tech posted net profits of NT$643 million or NT$3.05 per share in 2016, the company has no plans to deal out dividends for the year.
Meanwhile, the company also decided to increase its capital by issuing 45 million new shares. The capital expansion project is slated to complete in the third quarter of 2017.
The company's stock price rose NT$2.60 to close at NT$52.70 on the Taiwan Stock Exchange (TSE) during the April 19 session.