Cable CPE and DOCSIS module maker Hitron Technologies expects its sales and profits to further improve in the fourth quarter of 2018 thanks to increasing orders from its clients in the US and an easing of component prices, according to company chairman David Cheng.
Hitron has moved its production lines dedicated to the production of US-bound products from China back to Taiwan, which will help minimize the impact of higher tariffs imposed on networking devices by the US government for goods imported from China, Cheng said.
Buoyed by orders from the US, Hitron's consolidated revenues soared 94% on year to NT$1.23 billion (US$39.76 million) in October, the company reported. The figures indicate that its sales momentum has continued after the company's revenues expanded 75% on quarter to NT$2.988 billion in the third quarter.
Net profits for the third quarter of 2018 reached NT$39 million, up 11% on quarter, with EPS coming to NT$0.16. For the first three quarters of 2018, net profits totaled NT$98 million which translated into an EPS NT$0.41 compared to NT$1.05 of a year earlier.
Hitron plans to expand its capital through private placement, with the proceeds to be used to build a new plant in the Tongluo Science Park in Miaoli, northern Taiwan, the company reported.
Article translated by Steve Shen
