CCL Firm Iteq Posts Profit Growth in 1Q19

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Copper-clad laminate (CCL) specialist Iteq has reported net profit surged by 40.4% from a year earlier to NT$506 million ($16.4 million) in the first quarter of 2019. The company posted consolidated revenues of NT$5.29 billion in the first quarter of 2019, down by about 7% on year, while gross margin climbed by 4.65pp to 18.36%, Digitimes reports.

Iteq noted previously that disappointing sales of consumer electronics products would affect negatively its first-quarter revenues. However, thanks to rising shipments for high-end servers and 5G base station equipment, Iteq were able to improve its product mix and enjoy profit growth during the quarter, according to Digitimes.

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