Taiwan-based power supply unit PSU maker AcBel Polytech has announced consolidated revenues of NT$22.08 billion US$745.82 million for 2010, up 24.19% on year; however, the company's gross margin dropped from 17.56% in 2009 to only 14.95% in 2010, and so its net profit only reached NT$971 million, a drop of 9.75% on year with EPS of NT$1.94.
As for 2011, market watchers believe AcBel will see its gross margin rebound with revenues to also grow 20-25% on year.
As for the first quarter of 2011, although the company's sales performance was affected by the labor shortages in China and the Lunar New Year holiday as well as the earthquake in Japan, the company still expects to see on-year growth.
In addition to labor costs, rising raw material prices and the Taiwan exchange rate are also impacts that the company is facing currently. Although the company has been aggressively negotiating with clients to increase prices, the benefit is unlikely to show until after the second quarter.
Currently, consumer-use and industrial-use PSU businesses account for 55% and 45% of the company revenues, respectively, and in 2011, the company expects its LED lighting and smart grid businesses will have better contributions to revenues.
AcBel had consolidated revenues of NT$5.47 billion for the fourth quarter of 2010, down 12.1% sequentially, with gross margins of 13.9%, down 2.4pp sequentially. Net profit for the quarter was NT$56 million with EPS of NT$0.11.
