POST Online Media Lite Edition



 

Asia Pacific Wire & Cable revenues $291.1 million

Staff writer |
Asia Pacific Wire & Cable Company (APWC) announced inancial results for the nine months ended September 30, 2015.

Article continues below






Revenues for the nine months ended September 30, 2015 were $291.1 million, down from $338.9 million in the same period of the prior year.

The decrease was primarily attributable to a 23.4% decrease in sales in the company’s North Asia region due to a challenging economic climate in China and a 21.9% decrease in the Rest of the World (ROW) region due to market competition from China and a depreciation in local currencies.

In Thailand, revenue increased in local currency by 5.7%, but increased only 1% in USD due to currency depreciation. APWC’s ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand and North Asia regions.

The North Asia region includes China and Hong Kong, and the Thailand region contains the operations and sales inside Thailand.

The gross profit for the nine months ended September 30, 2015 declined by 42.2% to $16.7 million from $28.9 million in the same period last year. Gross margin was down by 32.7%, falling from 8.5% in the first nine months of 2014 to 5.7% in the comparable period this year.

In the Thailand region, gross margin fell following a decline in higher margin Thai government projects and local currency depreciation.

In the North Asia region, the gross margin decreased due to a drop in copper prices and an increase in labor costs. The ROW region was also affected by the drop in copper prices but the gross margin remained the same, with an increased margin from trading being offset by a decreased margin in sales of manufactured products.

Selling, general and administrative expenses of $18.9 million were incurred for the first nine months of 2015, compared to $20.6 million reported in the year ago period. Operating loss was $2.2 million, compared to an operating income of $6.3 million in the comparable nine month period last year.

Net loss attributable to APWC shareholders was ($6.1) million for the first nine months of 2015, compared to net income of $0.3 million in 2014.

Net loss per share was ($0.44) for the first nine months of 2015, while net income of $0.02 per share was reported for the comparable period a year ago.

The weighted average number of shares outstanding was 13.8 million for the first nine months of each of 2015 and 2014.

APWC reported $39.5 million in cash and cash equivalents as of September 30, 2015, compared to cash and cash equivalents of $68.9 million on December 31, 2014.

Current assets totaled $255.7 million on September 30, 2015 compared to $318.0 million as of December 31, 2014. Working capital was $145.6 million as of September 30, 2015, compared to $169.5 as of December 31, 2014.

Short term bank loans were reported at $44.1 million on the same date, down from $53.9 million at the end of the 2014. Shareholder's equity attributable to APWC was $135.7 million as of September 30, 2015, compared to $153.0 million on December 31, 2014.

Over the nine months ended September 30, 2015, the company used $17.5 million in cash from operating activities, compared to a $1.6 million in the comparable nine months of 2014.

Capital expenditures totaled $5.4 million for the first nine months of 2015, compared to $4.1 million in the comparable period last year.


What to read next

Tribune Media revenues up 11% to $454.7 million
Hasbro Q1 net revenues increased 16 percent
Hasbro Q2 net revenues increased 11%

New York City Mayor Adams announces COVID-19 vaccination will become optional for New York City workers

 
New York City Mayor Eric Adams announced that with more than 96 percent of city workers fully vaccinated against COVID-19 the city will make vaccination optional for current and prospective city workers effective February 10, 2023, following the expected ratification at the next Board of Health meeting.
 
 

Latest

Georgian President Giorgi Margvelashvili leads coalition effort to save former President Saakashvili's life
Mild but strongest earthquake in over 20 years hit Western New York
Massive earthquakes in Türkiye damage runway of Hatay Airport
Turkish Airlines cancels 170 flights due to expected adverse weather

NEWS

New 7.6 magnitude earthquake strikes Turkey

No damage to Akkuyu NPP after earthquake, diagnostics underway
Sosandar non-executive chairman Bill Murray passed away
912 dead in Turkey, more than 230 in Syria after powerful earthquake, countries rush to offer aid
Italy targeted by wide cyberattack
Six crew members dead in tanker accident in Nigeria
 

BUSINESS

European Central Bank to stress test 99 eurozone banks

TAP crucial for Europe strategically and economically, says Greek official
Highlights: January 3o, 2023 - February 5, 2023
China allowed truck entry on border with Tajikistan
South Africa to construct new power transmission lines in northern province
Spain suffers amid severe shortage of drugs
 

Trending Now

Mild but strongest earthquake in over 20 years hit Western New York

Eurozone retail sales fall more than expected in December

Turkish Airlines cancels 170 flights due to expected adverse weather

Massive earthquakes in Türkiye damage runway of Hatay Airport


POLITICS

Under Secretary Fernandez’s travel to South Africa

Afghanistan, Pakistan sign draft convention to avoid double taxation
Azerbaijan to double gas supplies to Europe by 2027
India to ban hundreds of Chinese-linked betting and loan lending apps
UK and coalition partners announce price caps on Russian oil products
Fiji ends training and exchange agreement with China
 

Today We Recommend

UN warns six million people in Afghanistan face famine risk, Biden extends national emergency


Highlights 

Viatel Technology to create 50 Irish tech jobs

Aon Q4 income decreased 24%

ASSA ABLOY Q4 sales increased by 28%


COMPANIES

Qurient partners with TB Alliance to develop new anti-tuberculosis agent telacebec

hVIVO signs GBP6.8 million deal to test RSV antiviral drug candidate
DP World handled 79.0 million TEU
Strike action resumes at GSK pharmaceutical plant in Irvine, Scotland
Skanska to build science center in Virginia for $79.5m
Recharge Industries preferred bidder for Britishvolt
 

CAREERS

Satu Rautavalta appointed new CEO of Pimatic

Exothera appoints Darren Leva as chief business officer
Vesta taps Shimon Steinmetz as CFO
Bruno Ultra Barcelos appointed managing director of Ethypharm UK
Syntach names Patrick NJ Schnegelsberg as new CEO
Chiesi appoints Giuseppe Accogli as new group CEO
 

ECONOMY

Eurozone retail sales fall more than expected in December

Retailers in Slovakia were doing well in 2022, their turnover increased by 4.3%
German factory orders recover in December 2022
New Zealand: Consumer confidence, business sentiment increases in January
Turkey: Manufacturing PMI 50.1 in January
U.S. employment spikes in January, unemployment down
 

EARNINGS

United States Steel Q4 earnings $174 million

Skechers Q4 sales increased 13.5%
Bosch posts sales growth
Cigna income $6.7 billion
Aon Q4 income decreased 24%
ASSA ABLOY Q4 sales increased by 28%
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Argentina's agricultural exports grew 8.5% in 2022

Flour mill opens in Herat province, Afghanistan
ESA: Iceland must urgently improve controls of poultry meat and poultry meat products
United States cattle inventory down 3%
Working group named to focus on large animal vet shortage in Kentucky
USDA announces steps to improve child health through nutritious school meals
 

LEADERSHIP

Growing trend of laptop workers in cafés

Lucky CEO means bad luck for hiring company
Product images could boost food pantry use
The madness of fast service: I want it now!
How to build a resilient brand
Only 32% of employees believe their pay is fair
 

CRIME

Brazil: Mapa participated in joint operations to combat pesticide smuggling in 3 states

Poland: UOKiK fines 3 entrepreneurs with almost $228,000
Kerry pleads guilty and agrees to pay $19.228 million in connection with 2018 salmonella outbreak
UK: Serious Fraud Office secures three convictions in $500 million trade finance fraud
AG for District of Colubia: $1,950,000 available for eligible Drizly drivers as result of tip-theft investigation
North Carolina: 52 stores pay fines for price scanning errors in 33 counties
 

Magazine

TRAVEL

Leearn the art of Kenshin Taiko in Utah

Legend Rock Petroglyphs in Wyoming, history right in front of you
La Chandeleur in Paris: Crêpe Day for all of you
Tru by Hilton Monterrey Fundidora hotel opens in Mexico
IntercityHotel Berlin Airport BER opens
Art After School, the perfect way to spark imagination in your child
 

SEA, LAND, AIR

2024 Range Rover Velar, pure greed and distraction

Honda Pilot TrailSport, fully equipped SUV with great ground clearance
2024 Corvette E-ray, electrified 4WD
Jaguar I-PACE is now more distinctive
2023 Toyota Prius expected this January
2023 Lincoln Corsair, advance features and ActiveGlide
 

DESIGN

Curved sofas, elegant and gentle

Solios watches, from nature to luxury
Coats of faux fur, but not of faux style
Redifining kitchen space and experience with workstations
Dinning sofas, a soft addition to a modern dinning table
Patchwork carpets, vintage Persian carpets made with unparalleled skill
 

GADGETS

Samsung Galaxy S23 smartphones, cameras with possibility to make calls

Harman Luxury Audio introduces new JBL Classic Series
KEF KC62, audio excellence and design ingenuity
Panasonic announces flagship OLED TV MZ2000
McIntosh MC451, 150 Watt vacuum tube and 300 Watt solid state amplifier
Headonia 2A3, luxury headphone amplifier that comes with gloves
 

HEALTH

Oxford BioDynamics PSE test shows 94% accuracy in cancer screening

Urinary incontinence, a condition that shouldn't be embarrassing
Synthetic opioids will be banned as UK government acts to stop drug deaths
Japan gives priority review status to Alzheimer's drug developed by Eisai, Biogen
Working group proposes on how to make Finland tobacco-free by 2030
Study: Merck COVID-19 pill linked to virus mutations
 

MEANTIME

Planet almost exactly Earth's size found

Astronomers observe light bending around an isolated white dwarf
Webb telescope catches early galaxy formation in action
Straigh and gay men both prefer masculine men for important jobs
Green comet to visit Earth after 50,000 years
Astronomers captured spectacular, ongoing collision between at least three galaxy clusters