【Hsinchu, Taiwan, November 11, 2021】Accton Technology, a premier provider of communications solutions, today reported financial results for the period ended September 2021, as approved by the Board of Directors.
The third quarter consolidated revenue was NTD 15.20 billion with an operating profit of NTD 1.35 billion. Net income after-tax was NTD 1.10 billion. EPS was NTD 1.96. Relative to second quarter, revenue grew by 8.19%, gross margin increased from 17.5% to 18.7%, and operating profit grew by 21.22%.
Accton Group CEO, Edgar Masri stated, “Q3 gross and operating profit margins have decreased relative to last year, as profitability is and will continue to be under pressure due to increased costs in supply chain and startup costs in new strategic businesses. We expect these challenges to continue through Q4 and the 1sthalf of 2022 and are doing our best to mitigate them. Operating expenses grew in the third quarter, as we have invested aggressively in research and development and recorded a couple of one-time administrative expense items. Moving ahead, we have launched operational strategies to control expenses and costs, increase operational efficiency, while maintaining aggressive developments on new technology innovation and competitiveness to enable and service our customers.”
The Company also stated that shipments of its 400G switches continue to build up in the fourth quarter and will accelerate during the first half of 2022 and beyond. Investment in new technologies like 5G and artificial intelligence are beginning to pay off as the respective ODM partners start delivering the resulting products to the market.
Highlights of Accton’s Q3 2021 results:
• Consolidated revenue:
• Consolidated operating margin and operating profit:
• Consolidated net income:
• Earnings per Share (EPS)
