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Monday 15th November 2004

Strong iPod sales push supplier Foxlink's performance 11:59AM, Monday 15th November 2004

Foxlink (Cheng Uei Precision Industry), a Taiwan-based consumer-electronics component maker, cites iPod music player orders from Apple Computer as a major growth factor for the company in the second half of this year. Buoyed by rising shipments, the maker's gross margins grew about three percentage points sequentially to 18.2% in the third quarter, the sources added.

Due to client confidentiality, Foxlink declined to comment on the report. However, the company claimed that an increase in third-quarter gross margins helped it reach record quarterly pre-tax profits of NT$697 million, up from NT$296 million in the second quarter.

Foxlink also hit record monthly revenues of NT$2.248 billion in October, according to the company. The maker reached record quarterly revenues of NT$5.792 billion in the third quarter, with combined revenues for the first three quarters totaling NT$12.755 billion, said the company.

Foxlink has forecast that its pre-tax profits and revenues in the fourth quarter will continue to show record growth. Revenues are projected to increase 10% sequentially, the company said, adding that fourth-quarter pre-tax profits may surpass NT$800 million.

Steve Malone

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