Acer releases record preliminary results
Consolidated revenues rose 14.2% year on year for 2010
Acer has released its 2010 preliminary financial results, revealing record highs in consolidated revenues of $19.9bn representing 14.2% year-on-year growth and an operating income of $ 575m with 18.6% year-on-year growth.
The self-assessed profits after tax reached $476m and earnings per share was $0.17, as a result of higher operating income and non-core investment disposal gains in 2010. The profits after tax and earnings per share are both record highs for Acer.
In Q4 2010, Acer's results were affected by unfavourable weather and economic conditions in Europe, meaning that consolidated revenues did not reach expectations at $4.7bn, down 7.3% year-on-year. Operating income was $139m, down 11.8% year-on-year, while the operating margin secured 2.93% due to better gross profit margin.
Besides a profitable core business, the Q4 2010 preliminary results include non-core disposal gains. Profits after tax reached $122m and earnings per share was $0.04.
Acer consolidated revenue includes revenues from other companies in which Acer has 50% or more ownership, and already deducts any revenues between Acer and these companies to avoid double-counting.