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Topoint Technology Co., Ltd. 2Q09 Revenue & PAT Reaches NT$460M & NT$36M Respectively with EPS of NT$0.34

Topoint Technology Co., Ltd.
2009-08-27 11:41 1497

TAIPEI, Taiwan, Aug. 27 /PRNewswire-Asia-FirstCall/ -- Topoint Technology Co., Ltd. (Topoint, TSE: 8021), one of the leading PCB drill manufacturers, today announced its financial results for the first half and second quarter of 2009.

For the first half of 2009, Topoint posted a net revenue of NT$780 million, down by 17.2% compared to NT$941 million for 1H08 due to the global economic recession. The gross margin slipped to 25.4%, down by 13.9% from 39.3% of 1H08, due mainly to relatively low utilization. Operating expenses of 11.2% from net revenue were trimly down from 16.1% of the first half of 2008. The operating profit margin was 14.2%, compared to 23.2% in 1H08.

For the second quarter of 2009, Topoint posted a net revenue of NT$460 million, up 44.1% over 1Q09, or down 10.4% compared to the year-ago figure. Gross margin rose to 28.7% in 2Q09 from 20.8% in 1Q09, but down by 9.1% compared to 37.8%of the year-ago quarter. Operating expenses of 10.9% of net revenue was down from 11.7% in the previous quarter, or compared to 15.3% in 2Q08. Operating profit margin expanded to 17.8% from 9.1% in 1Q09, or 22.4% in 2Q08. On the non-operating side, expenses and losses mainly consisted of NT$4.3 million from FX loss, and NT$15.8 million from interest expenses. Regarding the bottom line, the income before tax was NT$61 million; tax fee was up to NT$24 million because taxation preference of operational headquarter will be realized in 3Q09; net profit totaled NT$36 million, up 68.6% from NT$21 million for the previous quarter, or down 53.6% from 78 million for the same period a year earlier; basic after-tax EPS came to NT$0.34.

Sales volume of first quarter was 35.1 million pieces. By product categories, drill bit below 0.15mm account for 21% of consolidated shipment volume, followed by 0.20-0.25mm 39%, above 0.30mm 34%, router 6% and others 1%. To break down 2Q09's revenue by region, 41%, 48%, 8% and 3% of consolidated sales on Taiwan, China, Korea and Japan & others respectively.

For more information about Topoint, please visit http://www.topoint.tw/en/ .

If you have any questions, please contact:

Karen Lin

Investor Relations

Tel: +886-2-26805868 ext 818

Email: IR@topoint.tw

Source: Topoint Technology Co., Ltd.
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