Monday, August 4, 2008 - Page updated at 11:50 AM
E-mail article
Print view Share:
Digg
Newsvine
Nam Tai revenue falls 26 percent, stock hit
Chinese contract electronics manufacturer Nam Tai Electronics Inc. on Monday reported a 26 percent drop in sales, saying its handset manufacturing business was suffering in a "difficult and extremely competitive" market.
Chinese contract electronics manufacturer Nam Tai Electronics Inc. on Monday reported a 26 percent drop in sales, saying its handset manufacturing business was suffering in a "difficult and extremely competitive" market.
The Macao-based company earned $11.8 million, or 26 cents per share, compared with $38.8 million, or 87 cents per share, in the same quarter last year.
Last year's results included a $28 million gain on the sale of securities.
Subtracting a gain on liquidation settlement, Nam Tai earned 20 cents per share in the quarter. The three analyst surveyed by Thomson Financial had expected earnings of 17 cents per share, excluding items.
Nam Tai's revenue was $146.2 million, compared with $197.8 million a year ago.
Nam Tai's U.S.-listed shares fell $1.66, or 14 percent, to $10.32 in afternoon trading.
Nam Tai assembles electronics for other companies, who sell them under their own brand.
Nam Tai's handset segment saw its sales fall by 48 percent from last year due to declining demand and pricing pressure, it said. It expects the situation to continue.
Sales of LCD panels fell 6.1 percent, and sales in the consumer electronics segment, which makes cell-phone accessories among other things, fell 3.1 percent.
Copyright © 2008 The Seattle Times Company
Microsoft's news at CES not so new
As stores close, Starbucks buys a jet
UPDATE - 02:45 PM
Nordstrom reports lower December sales
UPDATE - 12:45 PM
Costco says it got ahead of road closures
Boeing jet deliveries fall 15% in 2008

This feature requires Flash 7.
Top video | World | Science / Tech | Entertainment
nwhomes

Find a new home or condo that fits your lifestyle.
Search New Developments
Builder Directory
- Pelicans fall out of sky from Mexico to Ore.
- 11 gay bars get letters threatening ricin attacks
- 20 miles of I-5 closed in Lewis County; possible closure near Fife
- Steve Kelley | UW football is "a sleeping giant" and Nick Holt plans to inject adrenaline
- Enumclaw-area animal-sex case investigated
- Issaquah Creek spills onto streets
- As stores close, Starbucks buys a jet
- In Duvall, all roads lead to deep water
- Kirkland's Jason Mesnick spills about "The Bachelor"
- Federal racketeering trial begins for Washington Hells Angels
- 11 gay bars get letters threatening ricin attacks
- Pelicans fall out of sky from Mexico to Ore.
- Eating certain foods together helps with nutrient absorption
- Homemade version of Buffalo Chicken Wings saves on calories, not on taste
- As stores close, Starbucks buys a jet
- Happy Hour | A taste of Hawaii on Queen Anne at Genki Sushi
- Washout: Unprecedented flooding forces evacuations, closes highways
- Divorcing husband wants kidney back
- 20 miles of I-5 closed in Lewis County; possible closure near Fife
- Despite drying, cooling trend, flooding and road closures continue








