On Thursday, amid the COVID-19 pandemic, Apple supplier AT&S said it has kept core profit stable so far in its financial first quarter, after reporting a 22% decline for the full year on investment to expand the business.
The company, which produces circuit boards for smartphones and tablets and supplies the likes of Apple, Intel and European auto suppliers, said that new products in its mobile devices unit could be delayed by coronavirus-related economic uncertainty but demand remains strong for inter-circuit (IC) substrate platforms for electronic components.
Even though AT&S, which generates a large chunk of revenue in China, has largely been unaffected by disruption to supply chains, it said customer demand could be affected in the coming months.
The company was cautiously optimistic for its April-June first quarter, predicting revenue and core profit at the level achieved in the same period last year.
AT&S employs nearly 7,000 staff in China, where it operates one plant in Shanghai and two in Chongqing, about 900 km from the city of Wuhan, where the coronavirus outbreak began.
MacDailyNews Take: Here’s to cautious optimism!