Foxconn's Hon Hai Beats Q4 Expectations on Rising Apple (AAPL) Orders; Will Invest in Sharp
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Supplier to the stars Hon Hai (owner of Foxconn) reported impressive numbers for its fourth-quarter earnings period.
Net income rose 82.7 percent from the third quarter to NT$35.029 billion, while revs rose 24.4 percent to NT$1.074 trillion.
For fiscal 2011, net income improved 5.8 percent to NT$81.59 billion while revs rose 15.2 percent to NT$3.45 trillion.
Earnings for the fourth quarter and fiscal 2011 were NT$3.18 per share and NT$7.65 per share, respectively.
Foxconn is the leading supplier for Apple (Nasdaq: AAPL), but also supplies equipment and parts for consumer electronics companies like Dell (Nasdaq: DELL) and Hewlett-Packard (NYSE: HPQ). Net income estimates beat estimates, with the average being NT$26.6 billion.
In addition, Foxconn said it would invest ¥133 billion in Sharp Corp. and its display unit.
Shares of Apple are indicated higher Wednesday, as positive results from the supplier indicate strong orders. Dell is flat, while H-P is slightly higher.
Net income rose 82.7 percent from the third quarter to NT$35.029 billion, while revs rose 24.4 percent to NT$1.074 trillion.
For fiscal 2011, net income improved 5.8 percent to NT$81.59 billion while revs rose 15.2 percent to NT$3.45 trillion.
Earnings for the fourth quarter and fiscal 2011 were NT$3.18 per share and NT$7.65 per share, respectively.
Foxconn is the leading supplier for Apple (Nasdaq: AAPL), but also supplies equipment and parts for consumer electronics companies like Dell (Nasdaq: DELL) and Hewlett-Packard (NYSE: HPQ). Net income estimates beat estimates, with the average being NT$26.6 billion.
In addition, Foxconn said it would invest ¥133 billion in Sharp Corp. and its display unit.
Shares of Apple are indicated higher Wednesday, as positive results from the supplier indicate strong orders. Dell is flat, while H-P is slightly higher.
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