FIC revenues down 13.4% in 2002, aiming at 20% growth this year

Hurt by weak sales in the fourth quarter, First International Computer (FIC) generated only NT$39.426 billion revenues in 2002, down 13.4% from 2001, marking its lowest full-year sales in the last four years.

The company lost NEC notebook orders to Quanta Computer’s more competitive pricing in the fourth quarter, and posted a lower-than-expected quarterly revenue at NT$10.363 billion, down 16% from the year-earlier period.

But according to sources, FIC has recovered at least part of NEC’s orders for an expected 1.6 million notebooks this year. Company chairman Ming Jeh Chien estimated that the company will supply about half of NEC’s planned notebook outsourcing orders.

Gene Sheu, president of FIC’s networking & information group, expects the company’s total revenues in 2003 to grow 20% year-on-year to NT$45 billion, citing the company’s diverse product lines and increasing demand for replacement PCs.

The company last month projected shipping 1.8 million notebooks this year, a 50% growth from 1.2 million units in 2002.

Source: company, compiled by DigiTimes, January 2003.

Article translated by Chinmei Sung and edited by Richard So