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NewsPoster May 8, 2014 10:29 AM
Acer barely returns to profit after three successive quarterly losses
<a href=" maximum.flexibility/">Acer</a> has <a href="">reported</a> a profit after three successive quarters of losses, but only just. After enduring a loss of <a href="">$254 million</a> 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. <br /><br />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." <br />
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It has been a turbulent year for the company, with CEO J.T. Wang <a href="" rel='nofollow'>resigning</a> at the end of last year after poor PC sales compounded its issues. Jim Wong, company president at the time, also <a href=" save.itself/" rel='nofollow'>stepped down</a>, leaving founder Stan Shih to remove himself from the board of directors and take control of the company. <a href="" rel='nofollow'>Jason Chen</a> 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 <a href="" rel='nofollow'>raided Acer's headquarters</a> 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. <br />
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The company has also released a list of nominees for the board of directors, <a href="" rel='nofollow'>reports</a> <em>Reuters</em>. Six candidates are listed, including Stan Shih and CEO Jason Chen. <br />
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Analysts are largely against the company, with the majority polled rating Acer as either "sell" or "strong sell".
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