Etron (GTSM: 5351) Board of Directors today approved audited financial results for the first quarter of 2008. Revenues for the first quarter totaled NT$2,391 million (US$76 million), down 16.9% from NT$2,876 million (US$88 million) for the same period of 2007. Net loss was NT$27 million (US$1 million), with loss per share of NT$0.07 after tax. The aforesaid EPS were based on weighted average outstanding shares of 372 million shares of the first quarter of 2008.
Despite influences of NTD appreciation against USD and falling market prices, shipment volumes for the first quarter of this year continued to grow compared to that of the same period of 2007. The company has also made consistent efforts on product developments toward advanced technology migration.
Board of Directors today also adopted a proposal recommending distribution of 2007 profits and capitalization of capital surplus. Common shareholders will be entitled to cash dividend of NT$0.8 per share and 12% stock distribution (120 shares for every 1,000 held). The 12% stock distribution includes 4% stock dividend and 8% share issuance from capitalization of capital surplus. The proposal will be discussed and brought to a vote at the Company regular shareholders’ meeting scheduled on June 13, 2008.