IC distributor and component maker Audix has reported net profits of NT$108 million (US$43.55 million) for the first quarter of 2017, increasing 35% on year. The earnings translated into an EPS of NT$1.01 for the quarter.
The strong earnings were recorded while the company saw its revenues decline 1% on year to NT$2.495 billion in the first quarter.
A better-than-expected performance of the company's manufacturing business unit contributed to the increased earnings in the first quarter, Audix explained.
The manufacturing business unit saw its profits soar 71% on year in the first quarter, while its sales grew 28%. Earnings generated by the manufacturing unit accounted for 57% of Audix's total earnings for the January-March period.
Shipments of the company's plastic VCM (voice coil motor) components to the supply chains of Apple, Huawei, Oppo and Vivo helped to ramp up revenue and earning growth for the manufacturing business unit, according to a Chinese-language Commercial Times report.
The company's stock price edged up NT$0.20 to finish at NT$41.95 on the Taiwan Stock Exchange (TSE) during the April 20 session.