Quartz component makers TXC, Harmony Electronics see small 1Q11 profits

   Date:2011/05/03     Source:

Taiwan-based quartz components makers TXC and Harmony Electronics have reported EPS of NT$0.81 and NT$0.34, respectively, for the first quarter of 2011, according to the companies.

TXC posted net profits of NT$237 million (US$8.28 million), the company said.

Buoyed by orders from Apple and HTC, TXC is expected to see its second-quarter revenues grow 5-10% sequentially from NT$2.32 billion recorded in the first quarter, according to an estimate by industry sources.

Harmony, which is also a component supplier for Apple, is likely to see a sequential drop in revenues in the second quarter due to low visibility for orders from the handset and notebook sectors, the sources noted. Harmony posted revenues of NT$1.41 billion in the first quarter, down 2.9% sequentially.

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