3231 緯創 Wistron - margins sustained « 電子 « 研究報告 « Downloads
| Attribute | Value |
|---|---|
| Version | 0423-2010-RBS |
| Date posted | May 5, 2010 |
| Downloaded | 54 times |
| Categories | 電子, 研究報告 |
| Tags | , , |
Description
1Q10 results beat expectations
Wistron reported 1Q10 net profit of NT$2.7bn (EPS of NT$1.45), beating the Bloomberg
consensus estimate (NT$2.2bn) and our forecast (NT$2.46bn), thanks mainly to the
sustained OP margin. While the gross margin in 1Q10 slid modestly to 5.3% (from 5.5% in
4Q09), Wistron’s OP margin increased to 2.2% (from 2.1% in 4Q09), ahead of our estimate
of 2.0%, due mainly to favourable product mix changes and solid opex savings.
