Elec-Tech’s LED Business Soars after Increased Investment in NVC Lighting
Elec-Tech released their fiscal 2013 financial report on April 27 2014. The company saw an increase in revenue for their LED business, owing to expansion in chip production capacity and further investment in NVC Lighting.
Elec-Tech’s revenue in 2013 reached NT $312 million (US $10.3 million), up 13.50 percent YoY. Net profit attributed to shareholders grew a staggering 94.55 percent to NT $8.82 million with an EPS of Nt $0.0076.
The company’s LED business flourished in 2013 with sales revenue up 42.84 percent to NT $143 million. Other areas however did not fare as well. Household appliance sales dipped 3.47 percent YoY to NT $166 million. Profit margin was 16.84 percent, a decrease of 1.55 percent YoY. Despite slight decrease in sales, profit remained steady.