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Hiwin Q1 net profit soars on strong global demand

TAIPEI--Profits at Hiwin Technologies Corp., one of Taiwan's leading machine tool makers, rose sharply from a year earlier thanks to strong global demand, the company said Saturday.

In the January-March period, Hiwin posted NT$534 million (US$17.68 million) in net profit, soaring from the NT$199 million recorded a year earlier. Its earnings per share for the first quarter stood at NT$2.1, jumping from last year's NT$0.78.

In the three month period, the company's consolidated sales rose 26.9 percent year-on-year to NT$3.01 billion, while its gross margin rose to 39.80 percent from 34.95 percent seen over the same period of last year.

Hiwin said demand for the second quarter is expected to remain solid and could increase further in the second half of the year not only on domestic demand and but also on demand from Europe, the United States and Japan.

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