Harvatek Utilization Rate Drives Up Revenue in 3Q

Taiwan package manufacturer Harvatek reported a turnaround in 3Q13 after seven straight quarters of loss. Benefiting from an increase of 50 to60 percent in production capacity utilization rate in 3Q as well as investments of NT $22.39 million (US $758 thousand) in 3Q, revenue reached NT $1.24 billion, a quarterly growth of 9.86 percent. Gross profit margin for 3Q increased from 5.23 percent in 2Q to 9.58 percent reaching a net profit of NT $56.34 million, a net loss of NT $88.13 million compared with 2Q. Profit this quarter showed a large increase with EPS reaching NT $0.25.
After seven consecutive quarters of loss, the company in 3Q13 saw a turnaround in profit with revenue reaching NT $1.24 billion, a growth of 9.86 percent from 2Q NT $1.1 billion and 16.46 percent increase from 3Q12. In addition, the company’s entire utilization rate in 3Q rose 50-60 percent driving gross profit margin performance up to 9.58 percent, a 4.35 percent increase from 2Q.


Harvatek 3Q net profit experienced a major rebound having reached NT $56.34 million, a net loss of NT $88.13 million compared with 2Q. Aside from a smooth turnaround, the company also received non-business investments of NT $32.4 million in 3Q, but had a remittance loss of about NT $8.32 million. EPS of NT $0.25 in 3Q was a large improvement from 2Q NT $-0.44.


In regards to performance for the first three quarters, accumulated revenue reached NT $3.2 billion from Jan.-Sept., a growth of 17.38 percent from 2012. Gross profit margin for first three quarters was 6.24 percent, a growth of 0.86 percent compared to 5.38 percent in 3Q12. Net loss was NT $80.72 million in comparison to NT $177 million in 3Q12. EPS for the first three quarter was NT $-0.44.
 

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

DURHAM, NC – November 12, 2024 –– Cree LED, a Penguin Solutions brand (Nasdaq: PENG), today announced the launch of its new CV28D LEDs with FusionBeam™ Technology, a groundbreaking advancement for the LED signage market... READ MORE

The new IR:6 thin-film infrared LED chip technology is available in 850nm, 940nm and new 920nm wavelength options First IR:6-based products are the OSLON® P1616 and OSLON® Black series, giving customers a drop-in replacement that o... READ MORE