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Asia Pacific Wire & Cable Corporation Limited Reports Full Year Financial Results

Stocks in this article: APWC

  • Gross profit was $51.8 million, an increase of 18% from $43.9 million in FY2011
  • Net income attributable to APWC shareholders was $10.9 million vs. a loss of $(5.4) million in FY2011
  • Diluted earnings per share was $0.79 vs. a loss of $(0.39) in FY2011
  • $72.8 million in cash and cash equivalents at December 31, 2012

TAIPEI, Taiwan, April 30, 2013 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (Nasdaq:APWC) ("APWC" or the "Company"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company's financial results for the fiscal year ended December 31, 2012.

Financial Summary

FY2012 Financial Results
  FY 2012 FY 2011 CHANGE
Revenues $462.3 million $471.9 million -2%
Gross Profit $51.8 million $43.9 million +18%
Net Income $10.9 million $(5.4) million +301.9%
EPS $0.79 $(0.39) +302.6%

* Earnings per share are based on approximately 13.8 million shares in 2011 and 2012.

"We are pleased to see our business rebound in 2012," began Yuan Chun Tang, CEO of Asia Pacific Wire & Cable Corporation Limited. "We expect these positive trends in profits and margins to continue throughout 2013, particularly in our power, telecommunications and distributed products. As we commence production of electronic wire at our Ningbo factory, we anticipate this new product line will contribute to our sales and profitability growth the second half of the year." Mr. Yuan concluded.

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