Acer Income Crashes 64% Shares Slide 43%

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Acer the Taiwanese Company that believe it can take on Apple has reported a 64% decline in income and their worst result in six years. In comparison Apple reported a 95% increase in profits and an 85% increase in revenues.

Acer the Taiwanese Company that believe it can take on Apple has reported a 64% decline in income and their worst result in six years. In comparison Apple reported a 95% increase in profits and an 85% increase in revenues.
 
Last month the Company which has seen their shares decline 43% this year, dumped their CEO, Gianfranco Lanci, despite the fact that he was credited with getting the Company to #1 in the European notebook market. He also got the brand established in the US market where Acer in the past had struggled to get traction.

First-quarter net income at the world’s second-largest supplier of notebook computers declined 64 percent to NT$1.2 billion, from NT$3.29 billion a year earlier.

Chairman J.T. Wang plans to restructure the company to focus on developing products beyond laptops, which account for 73 percent of sales. He also said that he wants the Company to be “more like Apple”.

The Company is also tipping a decline in sales in the three months to end-June.

Consolidated sales dropped 21 percent from a year earlier to NT$127.8 billion, according to Bloomberg calculations. Operating profit which comprises income from its primary business of designing and selling electronics, fell 56 percent to NT$1.93 billion. Net income is the smallest since the second quarter of 2004.

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