Taiwan-based drill bit maker Topoint Technology has reported consolidated revenues of NT$172 million (US$6 million) for May 2011, up 2.3% on month but down 10.1% on year. Consolidated revenues for the first five months of 2011 totaled NT$887 million, showing a 6.8% increase from a year ago.
Although the company has seen an improvement in order visibility for June, overall second-quarter revenues are likely to drop 5% sequentially before a pickup in the third quarter buoyed by seasonal effects, Topoint said.
Topoint's OEM drilling business in China will also get a boost starting the third quarter when its new Suzhou drilling plant enters commercial operations, the company noted.
Article translated by Steve Shen
