Foxlink reports strong growth in 2011 revenues

Taiwan-based connector maker Foxlink, which has also been aggressive about the retail channel business, has announced consolidated revenues of NT$81.6 billion (US$2.77 billion) for 2011, up 43.16% on year.

Although the company's net profit, which was impacted by losses from investments at PQI, only reached NT$289 million in 2011, it still achieved growth of 24.85% on year with EPS at NT$4.58. Foxlink will also distribute dividends of NT$2.60 per share with NT$2.50 in cash and NT$0.10 in stock.

Although Foxlink's retail channel business has significantly boosted the company's revenues for 2011, the company's gross margin has dropped to 11.8% from 12.44% in 2010, indicating its retail channel business may not be a benefit for raising gross margins.

Source : digitimes

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