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September 25, 2017

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Prospects of Catcher Technology set to bloom on HTC flagship orders

TAIPEI, Taiwan -- Electronic device housing maker Catcher Technology Co. (可成) yesterday held the company's earnings call, announcing encouraging operating results from last year while providing an upbeat outlook on prospects for this year.

Meanwhile, the market is expecting the company to see record-breaking sales in the first quarter of this year. According to reports, the company is poised to see tremendous growth in shipments of smartphone housing. Industry commentators stated that the company is poised to take a 50 percent share of HTC's upcoming metallic casing-clad handset, a likely successor to the company's high-profile flagship launched last year.

Although the company declined to comment specifically on its clients, Chairman Hong Shui-shu (洪水樹) stated that resources are allocated toward expanding production capacity, which has come under strain from high volumes of orders.

The company on Wednesday announced that an additional NT$825 million will be allocated to procure new equipment in its facilities based in Taizhou (泰州), China. Including another NT$1.644 billion allocated last month, first quarter capital expenditures for the company are expected to approach the NT$2.5 billion benchmark. The company expects the newly procured machinery to be deployed for production by the second quarter, rendering Catcher in command of about 18,000 computer numerical control (CNC) metal milling machines.

In response to the attributes of more commonly seen plastic casings, Hong also stated that the company is capable of producing metallic device casings featuring a variety of vibrant colors, such as the Catcher-made chassis for Sony's upcoming Xperia Z1 Compact.

In the fourth quarter of last year, the company garnered a net income of NT$3.472 billion, up 25.3 percent quarter-on-quarter, on revenues of NT$13.115 billion, up 25.6 percent quarter-on-quarter, while recording an earnings-per-share (EPS) performance rating of NT$4.62 for the period.

Throughout last year, the company's revenues reached NT$43.246 billion, up 16.8 percent year-on-year, yielding a net income of NT$13.801 billion, up 27.6 percent year-on-year. Profit margins however, tumbled by 0.9 percent at 42.4 percent, with EPS performance rated at NT$18.38.

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