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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (301)	11/6/2001 8:13:46 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Taiwan's Cellular Providers Report Strong Year-to-September Results November 6, 2001 (TAIPEI) -- Most of Taiwan's leading cellular providers reported hefty earnings in the first three quarters, beating market expectations. Taiwan Cellular Corp. topped the providers by earning NT$3.75 per share. Its affiliate TransAsia Telecommunications Inc. earned NT$3.26 per share, posting the second place. State-run Chunghwa Telecom Co., Ltd. reported earnings of NT$2.95 per share. Far EasTone Telecommunications Co., Ltd. earned NT$2.63 per share. (NT$34.54 = US$1) Taiwan Cellular reported total pre-tax earnings of NT$13.78 billion (US$405.29 million) in the first three quarters, attaining 81.3 percent of its projected goal. In the first three quarters, Chunghwa reported revenue of NT$138.5 billion (US$4.07 billion), pre-tax earnings of NT$37.44 billion (US$1.1 billion) and after-tax earnings of NT$28.48 billion (US$837.64 million). Chunghwa's revenue represented 78.8 percent of its goal, and the after-tax earnings accounted for 70.96 percent. Although Chunghwa's first-half revenue was NT$92.41 billion (US$2.71 billion) and its first-half after-tax earnings posted at NT$16.96 billion (US$498.82 million), the revenue constituted only 49.89 percent of its goal and the earnings made up only 42.25 percent. The Taiwanese telecom giant ascribed the lower-than-expected results to rate-cut competition and a write-off of NT$10 billion (US$294.11 million) in retirement pensions. In the third quarter alone, the state-run telecom provider had revenue of NT$46.16 billion (US$1.35 billion), on par with its second-quarter results. However, its third-quarter earnings surged because its retirement write-off shrank to only NT$1.7 billion (US$50 million). Although Far EasTone's third-quarter revenue was NT$8.2 billion (US$241.17 million), almost unchanged from the second-quarter figure, its third-quarter after-tax earnings surged 38 percent from the second quarter to post at NT$2.2 billion (US$64.7 million). The company's total revenue in the first quarters was NT$26.9 billion (US$791.17 million), representing 77.9 percent of its projected goal, and its after-tax earnings in the period totaled NT$5 billion (US$147.05 million), accounting for 77 percent of its goal. Far EasTone lowered its forecasts early this month, cutting its revenue goal to NT$34.5 billion (US$1.01 billion) from NT$44 billion (US$1.29 billion), its pre-tax earnings to NT$6.22 billion (US$182.94 million) from NT$8.57 billion (US$252.05 million), and its after-tax earnings to NT$6.49 billion (US$190.88 million) from NT$7.47 billion (US$219.7 million). Taiwan's electronics industry as a whole has reported a recession because of the global business downturn and the Sept. 11 terrorist attacks in the United States. In contrast, Taiwan's telecom service industry has enjoyed hefty earnings thanks to its mature character. As a result, the industry's average earnings per share posted at NT$2.6 in the first three quarters. (Commercial Times, Taiwan)