Nam Tai Electronics, Inc. 2nd-Qtr. EPS Up 470% to $0.97
vs. $0.17
PR Newswire - July 23, 1997 11:12
NTAIF NMT. %CPR %ERN V%PRN P%PRN
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VANCOUVER, July 23 /PRNewswire/ -- Nam Tai Electronics, Inc.
(Nasdaq: NTAIF, Toronto Stock Exchange: NMT) ("Nam Tai" or the "Company")
today announced unaudited results for the second quarter ended June 30, 1997.
Net sales for the period increased by 62% to $40,444,000 from $24,885,000 for
the second quarter of 1996. Operating income for the second quarter of 1997
increased by 566% to $8,005,000 from $1,201,000 for the prior year period.
Net income for the period increased by 450% to $7,763,000 from $1,409,000 for
1996. Earnings per share for the second quarter of 1997 increased by 470% to
$0.97 per share from $0.17 per share for the prior year period.
Net sales for the six months ended June 30, 1997 increased by 42% to
$71,596,000 from $50,242,000 for the first six months of 1996. Operating
income for the first six months of 1997 increased by 263% to $11,635,000 from
$3,208,000 for the prior year period. Net income for the period increased by
256% to $13,333,000 from $3,742,000 for 1996. Earnings per share for the
first six months of 1997 increased by 265% to $1.68 from $0.46 per share for
the prior year period.
Nam Tai is a full service contract manufacturer which provides hardware
and software design, plastic moulding, component purchasing, assembly, quality
control and shipping services to major original equipment manufacturers
("OEMs") in Japan and North America. The Company makes use of highly advanced
technology at its ISO 9001 certified facilities in Shenzhen, China. It also
maintains marketing and administrative operations in Hong Kong and Vancouver,
Canada, respectively. The Company's electronic products include personal
organizers, spell checkers, dictionaries, calculators and IC Card Readers as
well as complex electronic subassemblies and components. The Company's
customers include Canon, Casio, Citizen, Matsushita Battery, Nintendo (which
orders through Sharp), Optrex, Radio Shack, Sanyo Electric, Seiko Instruments,
Sharp and Texas Instruments.
NAM TAI ELECTRONICS, INC.
Consolidated Statement of Income (Unaudited)
For The Period Ended June 30, 1997 And 1996
(In Thousands of U.S. Dollars except per share data) |
