Foxconn witnesses 10 pc revenue growth in 2013

BANGALORE, INDIA: Foxconn, manufacturer of computer components and systems, has reported consolidated revenues of NT$895.6 billion (US$29.91 billion) for the second quarter, up 10.7 per cent sequentially with gross margin rising 0.12pp to 5.8 per cent, net profits reaching NT$16.98 billion and EPS at NT$1.30.

Although Foxconn only had consolidated revenues of NT$1.7 trillion, down 9.9 per cent on year; the company enjoyed a consolidated gross margin of 5.74 per cent with net profits also growing over 20 per cent on year to NT$33.33 billion and EPS growing from NT$2.34 during the same period a year ago to NT$2.56.

According to a report, Foxconn's revenue is estimated to climb sharply each quarter in the second half of the year, with Apple's new iPhone, iPad and iPad mini set for release in September. This helps in raising Foxconn's gross margin and profit.