MacNN Forums (http://forums.macnn.com/)
-   Tech News (http://forums.macnn.com/tech-news/)
-   -   Acer barely returns to profit after three successive quarterly losses (http://forums.macnn.com/113/tech-news/510333/acer-barely-returns-profit-after-three/)

 
NewsPoster May 8, 2014 10:29 AM
Acer barely returns to profit after three successive quarterly losses
<a href="http://www.electronista.com/articles/14/04/29/aspire.switch.10.features.detachable.keyboard.for. maximum.flexibility/">Acer</a> has <a href="http://www.acer.co.uk/ac/en/GB/press/2014/77530">reported</a> a profit after three successive quarters of losses, but only just. After enduring a loss of <a href="http://www.electronista.com/articles/14/01/17/executives.to.take.30.percent.pay.cut/">$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 />
<br />
It has been a turbulent year for the company, with CEO J.T. Wang <a href="http://macnn.com/rd/309442==http://www.electronista.com/articles/13/11/05/acer.loses.446.million.as.pc.sales.slow/" 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="http://macnn.com/rd/309443==http://www.electronista.com/articles/13/11/21/stan.shih.heads.up.pc.manufacturer.as.it.tries.to. 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="http://macnn.com/rd/309444==http://www.electronista.com/articles/13/12/23/acer.reshuffles.with.chen.at.the.top/" 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="http://macnn.com/rd/309445==http://www.electronista.com/articles/14/03/18/unusual.trade.volume.before.ceo.departure.cited/" 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 />
<br />
The company has also released a list of nominees for the board of directors, <a href="http://macnn.com/rd/309446==http://in.reuters.com/article/2014/05/08/acer-results-idINL3N0NT1G520140508" rel='nofollow'>reports</a> <em>Reuters</em>. Six candidates are listed, including Stan Shih and CEO Jason Chen. <br />
<br />
Analysts are largely against the company, with the majority polled rating Acer as either "sell" or "strong sell".
 
All times are GMT -4. The time now is 01:40 PM.

Copyright © 2005-2007 MacNN. All rights reserved.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2015, vBulletin Solutions, Inc.


Content Relevant URLs by vBSEO 3.3.2