Mistake !!!
Is a mistake to sold all my UTAC !!! Thought STATSChP’s advancement is far less than UTAC so it will cheong is a greater range after 2005, but it doesn’t….. at least not yet….
STOCK ALERT – Singapore’s UTAC sharply up ahead of full-year results
SINGAPORE (XFN-ASIA) – United Test and Assembly Center Ltd (UTAC) was sharply higher as investors accumulated the stock on expectations that the firm will report tomorrow robust 2005 earnings, dealers said.
In afternoon trade, UTAC was up 0.025 sgd or 2.99 pct at 0.86, on volume of 20.59 mln shares.
Nomura International (Hong Kong) Ltd said that UTAC is expected to post a net profit of 17.8 mln usd for the October-December quarter, on sales of 99 mln usd, as it benefitted from the increasing popularity of consumer electronics such as game consoles and MP3 players.
This means that full-year net profit is likely to come in at 39.5 mln usd, sharply up from the 13.6 mln usd the firm made in 2004.
UTAC said during the release in October of its third-quarter results that its sales in the fourth quarter were expected to rise by 10-15 pct quarter-on-quarter, bringing full-year sales to 317.7-322.0 mln usd. In 2004, UTAC achieved sales of 169.61 mln usd.
UTAC president and chief executive Lee Joon Chung said at the time that he expected the company’s full-year sales to come in at “320 mln usd or slightly better”. Lee also said net profit for the fourth quarter was likely to exceed the 10.5 mln usd made by the company in the third quarter.
