2009 Q1 Quarterly Results

Submitted by orville on May 7, 2009
in

Motech Industries Inc. (TWO: 6244) (“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.

Source: Motech