Acer Reports Fiscal 2018 Net Income NT$3.06 Billion, Up 8.7% YoY; EPS NT$1.01, Highest in Eight Years
Acer Inc. (TWSE: 2353) announced today the financial results for fiscal 2018 and the fourth quarter ended December 31, 2018. For the full year of 2018, Acer reported consolidated revenues of NT$242.27 billion, up 2.1% year-on-year (YoY); gross profits of NT$25.83 billion with 10.7% margin; and operating income of NT$3.74 billion, the highest in eight years , up 1.9% YoY with 1.5% margin. Net income reached NT$3.06 billion, up 8.7% YoY, and led to the distribution of NT$0.77 cash per share, with earnings per share (EPS) NT$1.01, the highest in eight years .
Engaging in dual transformation, Acer’s business last year was driven by gaming PCs, Chrome solutions, commercial business growth, in addition to new initiatives including AOPEN, Acer Cyber Security, and more. The Company is transforming steadily with its existing operations while also investing for the future.
Acer has continued to invest in research and development for innovations of the future. In 2018 it ranked among the top three in the number of Taiwan patent applications with 476 filings, up 25% from the previous year.
Operations in the fourth quarter were impacted by the global CPU supply shortage, and a reported loss of NT$428 million due to a one-time write-off of VR related investments. Hence, for the fourth quarter, Acer reported consolidated revenues of NT$63.67 billion, down 5.0% YoY; gross profits of NT$6.74 billion with 10.6% margin; operating income of NT$1.09 billion, with 1.7% margin; net income of NT$560 million and EPS of NT$0.18.
The financial results were approved by Acer’s Board of Directors, and the Company will hold its annual general meeting on June 14, 2019 in Taipei.