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Chin-Poon Reports Net Loss in Q2 2018
August 15, 2018 | DigitimesEstimated reading time: 1 minute
Automotive PCB specialist Chin-Poon Industrial swung to net losses of NT$645 million ($20.9 million) in the second quarter of 2018, when the company recognized losses of NT$940 million stemming from a deadly fire at its production site in Taoyuan, Taiwan, according to Digitimes.
Chin-Poon's EPS for the quarter turned to negative NT$1.63. The losses in the second quarter also dragged down the company's net income for the first half of 2018, when EPS arrived at negative NT$1.20. The company reported operating profits increased 20.4% sequentially to NT$283 million in the second quarter, despite the net losses. It generated revenues of NT$5.1 billion in the second quarter, down 10.3% on quarter, while gross margin climbed 2.27pp to 11.67%, Digitimes reports.
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