Printed from http://www.electronista.com

Acer barely returns to profit after three successive quarterly losses

updated 10:27 am EDT, Thu May 8, 2014

Change in fortune stems from Acer improving inventory and costs

Acer has reported a profit after three successive quarters of losses, but only just. After enduring a loss of $254 million in the previous quarter, the computer manufacturer bounced back, defeating its expected NT$1.17 billion ($38 million) loss and achieving a NT$1 million ($37,000) profit, though this still pales against the T$514.55 million ($17.1 million) it reported in the same period last year.

Consolidated revenues for the quarter were NT$76.7 billion ($2.5 billion), giving it an operating income of NT$127 million ($4.2 million) and an earnings per share of NT$0.0004. The company puts the change in fortunes down to the "effective control of inventory and costs, stabilizing gross profit, and other factors."

It has been a turbulent year for the company, with CEO J.T. Wang resigning at the end of last year after poor PC sales compounded its issues. Jim Wong, company president at the time, also stepped down, leaving founder Stan Shih to remove himself from the board of directors and take control of the company. Jason Chen was moved from his position as senior vice president of worldwide sales and manufacturing at Taiwan Semicondoctor Manufacturing Company to the CEO role in January. More recently, Taiwanese officials raided Acer's headquarters and homes of some employees as part of an insider trading investigation, after a number of fund managers sold large quantities of Acer shares on the day before J.T. Wang's resignation.

The company has also released a list of nominees for the board of directors, reports Reuters. Six candidates are listed, including Stan Shih and CEO Jason Chen.

Analysts are largely against the company, with the majority polled rating Acer as either "sell" or "strong sell".



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News