"AAC Acoustic Holdings Inc." has changed to "AAC Technologies Holdings Inc."   

Current PostionHomeAbout AACLatest News2012 1Q Results - Achieves Record Quarterly Revenue of RMB 1.19bn

2012 1Q Results - Achieves Record Quarterly Revenue of RMB 1.19bn

AAC Technologies Achieves Record Quarterly Revenue of RMB 1.19bn
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Performance Beats Traditional Weak 1Q

Financial Highlights

For the 3 Months Ended
31 March

YOYchange 4Q 2011RMB' million QOQchange
2012 RMB' million 2011 RMB' million

Revenue

1,192 970 +23% 1,132 +5%
Gross Profit 512 422 +21% 503 +2%
Gross Profit Margin 43.0% 43.5% -0.5pts 44.5% -1.5pts
Net Profit 314 272 +15% 265 +18%
Net Profit Margin 26.3% 28.0% -1.7pts 23.4% +2.9pts
Basic Earnings per Share RMB 25.58 cents RMB 22.14 cents +15% RMB 21.56 cents +18%

 

 (8 May, 2012 – Hong Kong) – AAC Technologies Holdings Inc. (“AAC Technologies” or “the Company”; HKEx: 02018), a world leading miniature technologies components solution provider, announced today its unaudited first quarter results for the three months ended 31 March, 2012 (“the period”).

The first quarter has provided a solid start in sales growth and profitability. Revenue rose 5% to RMB 1,192 million sequentially, a performance better than the seasonal norm, mainly driven by the significant gain in the penetration of tablet components in the global market. Gross profit margin dropped by 1.5 percentage points to 43.0% on a quarter-to-quarter basis, due to the annual first quarter manufacturing efficiency factors such as Chinese New Year vacation. Net profit margin rebounded to 26.3%, attributed to the better control of operational and R&D expenses.

On a year-to-year basis, revenue and gross profit grew 23% and 21% respectively. Although higher wages and material costs impacted on the Company’s operation, enhanced production automation and product mix have preserved gross profit margin and net profit margin.
While several major customers experienced product transition and restructuring, the long-standing customers’ diversification strategy of the Company delivered balanced growth. In addition, leveraging the design capabilities and cutting-edge technologies, the Company managed to win key projects from emerging smartphone and tablet players.

Mr Benjamin Pan, Chief Executive Officer of AAC Technologies, said, “We continue to see strong demand from customers in innovative smartphone and tablet designs, which provide vast opportunities to upgrade our product platforms and gain market share. Besides, the resources we have invested in new business segments such as optics and antennas will start to bear fruit, laying a strong foundation for sustainable growth in the years ahead.”  

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About AAC Technologies Holdings Inc.
AAC Technologies is one of the world’s foremost vertically integrated manufacturers of miniature components. Our Company designs, manufactures and distributes a comprehensive suite of acoustic and non-acoustic products. Acoustic products include speakers and microphones, and non-acoustic products include antennas, optical lenses, vibrators and ceramics products for use in mobile handsets, tablets, game consoles, notebook computers and other consumer electronics devices such as electronic book-readers, MP3 players and MP4 players. We offer wide-ranging innovative technology design solutions covering mobile telecommunications, IT products, consumer electronics, home appliances, automobile and medical applications markets.

AAC Technologies has been a constituent stock of the Hang Seng Mainland 100 Index, Hang Seng HK MidCap Index, FTSE Hong Kong Index and MSCI SMID (Small & Mid cap) Index.

For more details, please visit www.aactechnologies.com

Contact:
AAC Technologies Holdings Inc.
Connie Chin                                                               Louis So 
Head of Investor Relations                                      Investor Relations Manager
Tel: (852) 3470 0079                                               Tel: (852) 3470 0076 
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For press enquiries:
Strategic Financial Relations Limited
Vicky Lee   Tel: (852) 2864 4834         Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it   
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Carrie Wang  Tel: (852) 2114 4319    Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it  
Fax: (852) 2804 2789 / (852) 2527 1196