Apex sees increase in revenues, but drop in profits in 2013

 Apex sees increase in revenues, but drop in profits in 2013 

PCB maker Apex International has announced consolidated revenues of NT$6.34 billion (US$211.58 million) for 2013, up 11.1% on year, but the company's net profits dropped 35.35% on year to reach NT$353 million with EPS reaching NT$3.70 due to costs from establishing new plants and appreciation of the Thai Baht. Apex will distribute dividends of NT$1.85 in cash. Apex's new plants in Thailand have begun mass production and the company expects China's rising production costs and clients' strategies of gradually turning to focus on Southeast Asia markets, to help boost its sales in the future. Set-top box (STB) and TV control board businesses were main revenue contributors, accounting for 37% and 20% of Apex's 2013 revenues, respectively. Apex also benefited from expanded orders from STB, Japan-based HDD and Korea-based TV brand clients. The extra orders also fully packed the new capacity created during the first-phase of the company's expansion. In 2013, the company's 4-layer PCB product segment saw its revenue share rise to 65%, while the 6-layer PCB segment saw its share remain at 12%. -