Hsinchu, Taiwan – Accton Technology Corporation (Accton hereinafter), a leading outsourcing partner of advanced communication products, today held its annual Shareholder Meeting and approved its 2003 financial report. Accton’s 2003 sales revenue is NT$16,417 million with annual profit before taxes NT$1,204 million. Its Earning Per Share (EPS) before tax is NT$2.15 dollars. The Shareholder Meeting also approved the profit-distributing plan of one-dollar stock dividend and one-dollar cash dividend.
Today’s Shareholder Meeting approved Accton’s 2003 profit distributing plan and agree the spin-off of Accton’s wireless division to become another subsidiary. The meeting also elected the new board of director members, including nine board of directors and three supervisors.
Due to the Severe Acute Respiratory Syndrome (SARS) virus becoming more and more severe in Asia, Accton has implemented policies to prevent any possible infection, including: holding the Shareholder Meeting outdoors, setting up a live-broadcast of the Shareholder Meeting on the internet and over the phone to enable shareholders and institutional investors to view/listen to the meeting. This is not only the first service that has been provided by high-tech companies in the Science-based Industrial Park, but also the first move among all listed companies in Taiwan.
Mr. Yi-Min Doo, General Manager of Accton Technology Corporation stated that “As to the prospect of 2003, the environment is still full of uncertainty, reasons including the US vs. Iraq war and SARS virus in Asia, which makes it difficult to evaluate the impact towards our operations. However, the dedication of all Accton employees and long-term trust and support from our shareholders will provide the driving force for Accton to pursue future growth.” He then emphasized that “Accton will continue its R&D effort in the development of enterprise networking and explore opportunities in the SOHO and consumer networking sector to ensure consistent growth.”
