TAIPEI, Taiwan, May 13 /PRNewswire-Asia-FirstCall/ -- Motech Industries Inc. (Stock Code: 6244.tw) ("Motech", "We", or the "Company"), one of the world's leading producers of photovoltaic (PV) cells, today reported unconsolidated net revenues1 of NT$ 4,021 million for the first quarter of 2009 (1Q09), down 18% year-over-year and 22% sequentially respectively. Net income for the quarter was NT$ 51 million, down 81% year-over-year and 90% sequentially respectively. Earnings per share (EPS) for the quarter were NT$ 0.20(note 1), compared to NT$ 1.08(note 3) for 1Q08 and NT$ 2.04(note 2) for 4Q08.
On a consolidated basis, the Company reported net revenues of NT$ 4,167 million, down 15% from the same period of 2008. Consolidated gross profit and operating income amounted to NT$ 145 million and NT$ 1.93 million, down 82% and 99% from the same period of 2008 respectively. Consolidated net income for 1Q09 was NT$ 48 million, down 82% year-over-year.
About Motech Industries Inc.
Motech Industries Inc. (formerly Meter International Corporation before 1998) was founded in 1981 as a designer and manufacturer of test and measurement instruments. The company entered into solar cell production in 1999, and is a pioneer in the manufacturing and marketing of high-quality single and multi-crystalline silicon solar cells in Taiwan.
Today, the company is the largest solar cell manufacturer in Taiwan and one of the top ten manufacturers worldwide in terms of production capacity and output in 2007. "Modern Technology for a Sustainable World" is the company's motto to emphasize its strong dedication to developing a sustainable world and to encouraging the use of renewable sources of energy so that we, as citizens of the world, can breathe easier in the years to come. Motech is a publicly traded company on Taiwan's Over-the-Counter (OTC) market with the trading code of 6244.
For more information about Motech, please visit http://www.motech.com.tw/ .
If you have any questions, please feel free to contact us!
Dylan
IR Department
Tel: +886-6-5050789
Fax: +886-6-5051789
Email: info@motech.com.tw
