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Taiwan`s Major Machinery Firms Score Record High Sales in May

Taiwan`s Major Machinery Firms Score Record High Sales in May

Taipei, June 22, 2010 (CENS)--Robust orders drove up sales in May for Taiwan`s listed manufacturers of machinery, including Fu Chun Shin Machinery Co., Hiwin Technologies Corp., Kao Fong Machinery Co., Awea Mechantronic Corp., Tongtai Machine & Tool Co., and Taiwan Takisawa Technology Co., with Hiwin and Kao Fong achieving all-time records in the month, and Awea, Tongtai, Taiwan Takisawa posting the highest monthly record since the beginning of this year.

Most of the above firms` production lines will be kept busy till the fourth quarter, with Fu Chun Shin claiming its production lines will hum till the end of November.

Despite rising production costs due to higher prices of cast iron and volatility of the local currency against the greenback, the domestic machine-tool sector has raised selling prices by 8% to offset such downsides, with many believing earnings in the second quarter will be on par with those in the first.

Focused on linear-motion devices and technologies, Hiwin posted US$18.98 million in sales in May, for an all-time record, with the company claiming to have received orders to fill production lines through the end of August and not worried about orders throughout this year.

Hiwin scored US$0.03 in after-tax EPS in the first quarter and the second-quarter EPS will likely exceed that in the previous one. The company currently has order backlog exceeding US$76.92 million, enabling it to hit all-time-high monthly sales records up till August. The company will likely challenge US$0.18 in after-tax EPS this year.

Taken from: CENS / Ben Shen 6/22/2010