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Nam Tai Electronics, Inc. Message Board

  • jaretwilson jaretwilson Feb 22, 2011 6:20 AM Flag

    Q4 2010 results

    Q4 of 2010 NTE earned $.12 per share on revenue of $166.5M. The analyst prediction was $.11 on revenue of $159M. Q4 of 2009 NTE made $.01 per share on sales of $93.7M.

    Here's the biggest thing that jumps out at me: The new Wuxi factory had a net loss for the whole of 2010 of $11.6M on revenue of $3.7M. $8.7M of that was just depreciation, not an actual cash loss. If you don't count the new FPCB plant in Wuxi (which wasn't properly running yet) NTE would have made an extra 26 cents per share in 2010! They hope to be doing breakeven in the Wuxi plant by Q4 of 2011.

    Here's another big thing that jumps out at me: "We believe that immediate expansion of our manufacturing facilities in Shenzhen is needed because we expect that the production capacity at our principal manufacturing facilities in Shenzhen to be fully utilized by the end of 2011 or early 2012."

    At the end of the year they expect to be at maximum capacity in Shenzhen, and expect the new Wuxi plant, which is currently a drag on earnings, to be breakeven. Fantastic news. That really overshadows the numbers, which are decent.

    Q1 2011: "The demand for LCD modules and telecommunication subassemblies increased considerably during 2009 and 2010, and we expect that momentum to be strong into 2011. Accordingly, we believe that Nam Tai’s overall business in the first quarter of 2011 will be stable, although the usual seasonal decline from the Chinese New Year period in February should be anticipated."

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NTE
7.020.00(0.00%)Apr 21 4:00 PMEDT

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