Acer Reports Q3 2019 Net Income of NT$1.18 Billion and EPS of NT$0.39; Both Mark the Highest in Eight Quarters
Net income grows by 188% quarter-on-quarter and by 29% year-on-year
TAIPEI, TAIWAN (November 6, 2019) Acer Inc. (TWSE: 2353) announced today the financial results for the third quarter of 2019: consolidated revenues were NT$62.87 billion, up 14% quarter-on-quarter (QoQ); gross profits were NT$6.66 billion with 10.6% margin; operating income was NT$775 million, up 32.8% QoQ; and earnings before tax [1] was NT$1.56 billion. The net income [2] was NT$1.18 billion, up 188% QoQ or by 29% year-over-year, with earnings per share (EPS) of NT$0.39. Both the net income and EPS mark their highest over eight quarters[3].
Acer’s subsidiaries have been making significant progress. GadgeTek launched the “Click to Pray eRosary” in collaboration with the Pope’s Worldwide Prayer Network in the Vatican for the Catholic community. This app-driven wearable was launched in mid-October and has gained attention from top international media, and reported in 2500 media articles.
Following its participation in the US Cancer Moonshot genetic sequencing project, Acer re-entered the biotech industry with artificial intelligence (AI) technology. On November 5, Acer signed a Memorandum of Understanding with Novartis Taiwan. The cross-industry cooperation will introduce AI technology into clinical trial design, inspection and registration, disease detection, and patient care integration. In addition, the two companies will benefit from their global operations to bring smart medical products to global markets. Both companies will start by targeting macular degeneration, diabetic retinopathy, and cardiovascular diseases.
Given the external business challenges, Acer has continued to stride toward the plan to establish multiple business engines, which include Acer Cyber Security, Acer Synergy Tech, Weblink International, Altos Computing, and GadgeTek.
[i] Earnings before tax is reported as profit-before-tax in Acer’s financial statements
[ii] Net income is reported as profit-after-tax in Acer’s financial statements
[iii] Since Q4 2017
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