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Taiwan’s Big Three Rally in September

Published November 3, 2009

TAIPEI, Taiwan (BRAIN)—Sales revenue at Taiwan’s big three manufacturers rebounded slightly in September coming off double-digit drops in August, according to numbers released on the Taiwan Stock Exchange.

Merida and Ideal both posted positive gains in September compared with the same month last year, while Giant’s revenue fell 17.9 percent, marking the six straight month of decline for the manufacturer. However, year-to-date Giant is down just 5.56 percent due to a strong first quarter.

Sales at all three manufacturers decreased in August: Giant saw an 18.2 percent dropoff from the same month in 2008; Merida fell 17.5 percent; and Ideal dipped 32.8 percent.

For September, Giant reported revenue of $42.9 million, compared with $51.9 million from the same month last year. For the first nine months of the year, revenue is $360.5 million, compared with $342.7 million in 2008.

Merida’s revenue was up 5.26 percent in September—from $38.08 million in 2008 to $40.3 million this year. Year-to-date revenue is off a half-percent.

Ideal came back strongest with sales of $8.5 million in September, up 50.5 percent from the same month in 2008. Year-to-date revenue is up 48 percent, from $54.6 million in 2008 to $81.49 million this year.

Note: Numbers reported do not include mainland China operations. Figures based on Sept. 30 exchange rate of $1=$32.05 for 2009 numbers and $1=NT$32.26 for 2008 numbers.

—Nicole Formosa

Topics associated with this article: Earnings/Financial Reports

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