GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 3rd quarter of fiscal year 2014. For the three month period ending September 30, 2014 net revenue was a record US$ 172.5 million, an increase of 26% versus the prior quarter and an increase of 20% versus the same period in 2013. For the three month period ending September 30, 2014 net profit (after tax) was US$ 2.41million, an increase of 106% versus the same quarter in 2013. For the nine month period ending September 30, 2014 sales revenue was US$ 446.5 million, an increase of 20% versus the same period in 2013 and also a record for the company. Commenting on the announcement, Mr Lewis Lo, President of GMI, said ‘We are very pleased with our continued consistent revenue growth in what slow economy situation of Asian market especially Mainland China. GMI once again entered into new customers and new application fields. GMI is still optimistic in regards to both 2014 annual performance and our long term growth.
GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 1st quarter of fiscal year 2014. For the three month period ending March 31, 2014 net revenue was US $ 137.3 million, an increase of 26% versus the same quarter in 2013. After-tax net profit for the period was US$ 228 thousand. Commenting on the announcement, Mr. Lewis Lo, president of GMI, said, “We are very pleased with our continued consistent revenue growth in what is traditionally a slow quarter in our industry. GMI once again entered into new customer and vendor partnerships during the quarter. Our net profit results were below our expectations primarily due to lower gross profits due to unexpected market price reductions in some product segments. Despite some ongoing challenges in some sectors of the worldwide economic environment, GMI is optimistic in regards to both our 2014 annual performance and our long term growth.”
GMI Technology Inc. (Public, TPE: 3312) announced that they have engaged into a partnership with Nuvoton Technology Corporation. Under the jointly signed agreement GMI will design in and distribute Nuvoton’s Cortex™- M0 processor products. Target applications include brushless DC motors for home appliances, consumer applications, industrial, and electric automotive products. Initial shipments to customers will start this quarter. Commenting on the announcement, Calvin Yau, GMI Vice President, said, “We are excited to partner with a company of Nuvoton’s capabilities. They have an excellent range of proven MCU products. Many of the end user solutions that utilize Nuvoton’s technology will be produced in mainland China where GMI is very strong.” “We are very pleased to partner with a company with GMI’s capabilities,” stated Bosco Law, Nuvoton President of China. “GMI’s strong engineering and sales teams and strength across Greater China will be very valuable to enable Nuvoton to reach our growth targets”.
GMI Technology Inc. (Public, TSEC: 3312) today announced financial results for their 4th quarter and fiscal year 2013. For the quarter ending December 31, 2013 net revenue was a record US$ 154.7 million, an increase of 51% versus the same quarter in 2012, and an increase of 7.8% over the prior quarter. For the same period after-tax profit was a record US$ 1.64 million, an increase of 144% versus the same quarter in 2012, and an increase of 40% over the prior quarter. For the twelve month period ending December 31, 2013 net revenue was a record US$ 526.7 million, an increase of 23% versus 2012. After-tax profit was US$ 4.58 million for the year, an increase of 249% versus 2012. Over the past decade GMI’s net revenues have increased approximately 23% per year, among the leaders in their business segment. Commenting on the announcement, Mr. Lewis Lo, president of GMI said, “We are very proud of both our fourth quarter and full year 2013 results, with both our sales revenue and net profit exceeding our expectations. This marks our 7th consecutive year of annual sales growth in an often challenging worldwide economic situation. The performance from the first year…
GMI Technology Inc. (Public, TPE: 3312) announced today the results for the 1st year of operations of GW Electronics Company Limited. GW Electronics is a GMI joint venture in partnership with Willas-Array Electronics (Holdings) Limited that was announced in November 2012. For the twelve month period ending December 31, 2013 net sales revenue was over US$ 200 million, significantly exceeding the business plan. The majority of sales were from semiconductor products sourced from Toshiba. Commenting on the announcement, Lewis Lo, GMI president, said, “We are very pleased with the impressive start to this strategic venture. Customer shipments started ahead of schedule, and coupled with strong demand, sales revenue was well above target. In addition GW Electronics was profitable in the 1st year of operations. We are optimistic on the continued success of the venture and the expansion to new customers and markets in mainland China.”
GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 3rd quarter of fiscal year 2013. For the three month period ending September 30, 2013 net revenue was a record US$ 143.5 million, an increase of 21% versus the prior quarter and an increase of 27% versus the same period in 2012. For the three month period ending September 30, 2013 after-tax net profit was US$ 1.17M, an increase of 164% versus the same quarter in 2012. For the nine month period ending September 30, 2013 net revenue was US$ 372.0 million, an increase of 14% versus the same period in 2012 and also a record for the company. Commenting on the announcement, Lewis Lo, president of GMI, said “We are very pleased that the numerous strategic actions we have taken continue to improve both our top line and bottom line financial results. This marks our 7th consecutive quarter of year-over-year sales revenue growth, and both our sales revenue and net profit exceeded our expectations in what is still a challenging worldwide economy. We continue to see the contributions from our growing product portfolio and new customer design wins, especially in mainland China. Overall we remain optimistic about…
GMI Technology Inc. (Public, TPE: 3312) announced the issuance of a stock share dividend today of forty shares for every one thousand shares owned. The dividend was approved by the board of directors and announced in June of this year. Commenting on the announcement, Lewis Lo, president of G.M.I., said, “We are happy to share the ongoing success of our company with our shareholders via the issuance of the stock share dividend. This is the 4th consecutive year that GMI has issued a cash or stock share dividend.”
GMI Technology Inc. (Public, TPE: 3312) announced today that they have shipped over five million heat sink products since entering the market earlier this year. Applications to date include tablet PCs, smart phones, DVD-ROM, and routing & switching hubs. All of the products were provided by their two strategic heat sink partners XBright (nano graphite) and STK Corporation (ceramic). Commenting on the announcement, Joseph Tong, GMI vice president, said, “We are very excited with the rapid volume ramp in our heat sink business. Customer shipments started ahead of schedule with both of our strategic partners and sales revenue to date is well above target. We are optimistic that this will be a long term strategic business for GMI as we continue the expansion to new customers and markets, especially in mainland China.”
G.M.I. Technology Inc. (Public, TPE: 3312) today announced financial results for the 2nd quarter and 1st half of fiscal year 2013. For the three month period ending June 30, 2013 net revenue was a record US$ 119.1 million, an increase of 9% versus the prior quarter and an increase of 10% versus the same period in 2012. For the three month period ending June 30, 2013 after-tax net profit was US$ 674K, an increase of 42% versus the same quarter in 2012. For the six month period ending June 30, 2013 net revenue was US$ 228.5 million, an increase of 8% versus the same period in 2012 and also a record for the company. Commenting on the announcement, Lewis Lo, president of G.M.I., said “We are extremely proud to post our 6th consecutive quarter of year-over-year sales revenue growth. Our net profit for the quarter also exceeded our expectations in what is a still challenging worldwide economic situation. As announced previously, we are also very pleased with the results for the 1st six months of operations of GW Electronics, a GMI joint venture in partnership with Willas-Array Electronics that was announced in November 2012. In addition the benefits from our…
GMI Technology Inc. (Public, TPE: 3312) announced today the results for the 1st six months of operations of GW Electronics Company Limited. GW Electronics is a GMI joint venture in partnership with Willas-Array Electronics (Holdings) Limited that was announced in November 2012. For the six month period ending June 30, 2013 net sales revenue was over US$ 70 million, significantly exceeding the business plan. The majority of sales were from semiconductor products sourced from Toshiba. Commenting on the announcement, Lewis Lo, GMI president, said, “We are very excited with the fast start to this strategic venture. Customer shipments started ahead of schedule and sales revenue was well above target. In addition GW Electronics was profitable in the 1st six months of operations. We are optimistic on the continued success of the venture and the expansion to new customers and markets in mainland China.”