HSINCHU, Taiwan, May 13, 2020 Accton Technology Corporation (Accton) (TWSE:2345), a premier provider of communication solutions, today reported financial results for its first quarter 2020 following board meeting approval. The consolidated revenue in the first quarter was NT$ 11.724 billion, an increase of 5% from the same period in 2019. The net income in the first quarter was NT$ 1.032 billion with NT$ 1.86 per share.
Accton Technology’s consolidated revenue in the first quarter of 2020 was NT$ 11.724 billion with operating profit NTD 1.116 billion. The first-quarter net income after-tax was NTD 1.032 billion, with annual growth rates of 36%. The first-quarter EPS was NTD 1.86.
“Accton delivered solid results with slight growth relative to last year equivalent period, managing to weather the brunt of early disruptions from the COVID-19 pandemic. We are focusing our attention on the safety and well-being of our employees while delivering on our commitments to our customers and shareholders,” stated Edgar Masri, Accton’s CEO.
While the impact of the COVID-19 pandemic on the society and economy will be broad and extensive, Accton Technology is adopting a cautiously positive attitude. As such, the Company is setting up a more resilient operating model that includes deploying advanced communications for work-from-home setups, exploring new market opportunities, accelerating the promotion of new leaders, and raising the company’s support to employees based on family circumstances.