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Compal slashes notebook shipment forecast by 14%

Compal, a leading contract notebook PC manufacturer, yesterday slashed its notebook shipment forecast for this year to the same level as last year, due to a slowdown in the PC sector.

The announcement by Chen Juei-tsung, Compal president, was made during the firm's quarterly investors' conference.

“Due to a decline of the PC market in the midst of competition from tablets, we have to lower our notebook shipment forecast, and we apologize,” said Chen, who slashed the figure by 14 percent, from the original 47 million to 40.5 million, which was the same as last year.

Compal in the first half had consolidated sales of NT$326.186 billion, a decline of 6 percent from the NT$347.439 billion for the same period last year. Net profit from January to June was NT$3.44 billion, a more drastic decline of 49.2 percent from the NT$6.777 billion for the same period last year. Earnings per share for the first six months were NT$0.79.

For the second quarter, consolidated sales were NT$164.87 billion, a rise of 2.2 percent from the NT$161.31 billion for the first three months. Net profit was NT$1.571 billion, a decline of 17 percent from the first quarter's NT$1.869 billion. Earnings per share for the period were NT$0.36.

Chen attributed the second-quarter profit decline to rising cost for introducing new products. Meanwhile, exchange rate losses also played a critical role.

“Shipments increased from Brazil, where exchange rate hedging tools were more limited,” he said. “Of the NT$507 million exchange rate losses, some NT$400 million was from Brazil. In the future we'll continue to enhance our exchange rate loss hedging operations in Brazil.”

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