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.
