Flexible PCB specialist Career Technology swung to net profit of NT$33.95 million (US$1.14 million) in the first quarter of 2018 from loss of NT$85.29 million a year earlier. EPS for the most recent quarter came to NT$0.10.
Career Tech posted revenues of NT$3.04 billion in the first quarter, down 2.9% from the same period in 2017, while gross margin climbed 5.51pp on year to 16.23%.
Career Tech also disclosed revenues increased 3.9% from a year earlier to NT$891 million in April 2018. Revenues for the first four months of the year came to NT$3.94 billion, down 1.4% from the same period in 2017.
Market watchers have expressed optimism about Career Tech's growth in the liquid crystal polymer-based antenna field. The Taiwan-based FPCB maker has reportedly obtained orders for LCP antenna modules for used in Apple's iPhone this year. Career Tech is already a FPCB supplier for Apple's other devices including MacBook, iPad and Apple Watch, according to the watchers.
In March, Career Tech reached an agreement with Eversol to buy the solar wafer maker's factory in Taoyuan, northern Taiwan for NT$1.57 billion. The acquisition is to faciliate the company's future expansion plan, according to the FPCB firm.
Earlier in 2018, Career Tech approved plans to raise about NT$3.07 billion through issuing new shares at NT$40 each. Proceeds from the share issue will be used mainly for production capacity expansions and operating facility purchases, the FPCB maker indicated.
Article translated by Jessie Shen
