Co-Tech June Revenue was NTD271 million
(July 8th, 2013 Taipei News)
Co-Tech Copper Foil (Ticker 8358) announced its June sales amounted to NTD271 million, sales increased 17.4% compared to the same period last year, and due to the 2nd factory fire in May which impacted production and inventory adjustment by customers for the end of the quarter, sales decreased 2.4% compared to the previous month.
The accumulated sales for the 2nd quarter amounted to NTD1,058 million, declined 2% and 2.4% on a YoY and QoQ basis respectively. The think copper foil applied on smartphones and Notebook PC related products both declined compared to the previous quarter, mostly impacted by the lower production capacity issue, and sales for the first time, contributed less than 60% for the quarter. Thick Copper foil applied on automobiles however experienced a healthy 6.5% QoQ growth and a 26% YoY growth. Co-Tech is doing the best to recover its production capacity and target to complete the testing process for partial equipment.
Co-Tech is the only OTC listed ED copper foil supplier in Taiwan and its major application are on 3C products, customers including CCL and PCB makers, thin copper foil applied on smart phones and Notebook PCs are the major products of the company. The copper foil industry average selling price is set by adding a premium on top of the LME average price of the previous month. June Copper price declined 3% compared to the previous month, market expects copper price to decline , however, a low copper price is definitely favorable to the Copper foil industry and a stable copper price is favorable to Copper Foil makers.