Hon Hai And Foxconn Reports Record Q4 2011 Earnings With $1 Billion In Net Income

Posted on Mar 29 2012 - 8:07am by Editorial Staff

Hon Hai Precision Industry Co. and Foxconn Technology Group have announced record Q4 2011 quarterly earnings. The Hon Hai Group, currently Taiwan’s biggest manufacturing conglomerate, scores after-tax net income of NT$35 billion (US$1.1 billion at US$1:NT$30) on consolidated revenue of NT$1.07 trillion (US$35.8 billion) in the fourth quarter of 2011, both topping expectations and breaking the group’s quarterly records.

The quarterly revenue result represents a 24.43% increase over a quarter earlier and the earnings result was up 82.66% in the meantime. For the first time, the company’s quarterly revenue stands above NT$1 trillion (US$33.3 billion). The group’s earnings per share for the fourth quarter of 2011 was NT$3.18, higher than the NT$2.5-2.8 range set by industry executives.

Throughout 2011, Hon Hai raked in NT$81.9 billion (US$2.7 billion at US$1:NT$30) in after-tax net income, or NT$7.65 per share, on consolidated revenue of NT$3.18 trillion (US$106 billion). Industry executives ascribed Hon Hai’s staggering revenue and earnings in the fourth quarter of 2011 mostly to iPhone 4S contracts from Apple and climbing defect-free production ratio. The group’s consolidated gross margin for the quarter rose to 8.89%, up from 7.05% in the previous quarter.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.