Foxconn 3Q12 Profit Surges

Wednesday, October 31, 2012

Foxconn 3Q12 Profit Surges

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Foxconn Electronics (Hon Hai Precision Industry) has reported unconsolidated revenues of NT$711.06 billion (US$24.33 billion) for third-quarter 2012, with net profit rising 139.94% sequentially to NT$30.256 billion.

The company's profit was boosted by the shipment of Apple's new products. Hon Hai also attributed its remarkable profit performance in the third quarter to the better product lineup and higher production efficiency, the fact that the company did not have to pay tax on retained earnings for the quarter, and the NT$4.5 billion of returned interest from loss listed for investments in Sharp.