Foxconn sees 5% sequential growth in 3Q11 revenues
Foxconn Electronics has announced non-consolidated revenues of NT$665.66 billion (US$22.27 billion) for the third quarter of 2011, up 5% sequentially. Gross margin also rose from 3.2% in the second quarter to 3.5%.
Although the company's third-quarter consolidated results have not yet been announced, based on its non-consolidated profitability, Foxconn's consolidated gross margin in the third quarter should have performed better than the 7.3% in the second.
Foxconn pointed out that revenue growth in the third quarter was mainly due to its strategy of shifting production into inland China as well as increasing production efficiency.As for the fourth quarter, although the visibility of the IT market status is still short, as Foxconn will gradually finish its production migration to inland China, it should allow the company to perform better in terms of management efficiency and client services.
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