“New devices including the latest iPhone and preparation for the latest iPad helped revenue climb from the previous quarter,” Culpan reports. “Hon Hai’s third-quarter profit was probably boosted by so-called non-recurring engineering revenue, which is paid by clients after the supplier completes research and development on a new product, Vincent Chen, an analyst at Yuanta Financial Holding Co. in Taipei, said by telephone.”
“Third-quarter sales were NT$919 billion, the company reported Oct. 9, missing the NT$959.5 billion average of analyst estimates at the time. Operating profit rose to NT$31.8 billion during the period, it said today, compared with estimates for NT$29.4 billion,” Culpan reports. “Foxconn’s billionaire chairman Terry Gou has a long-term goal of 15 percent annual sales growth and on Oct. 31 said earnings-per-share this year will be at least as good as 2012.”
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