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Acer On A Roll $40M Vic Gov Deal + Global Gross Profits Up 28.3%

Acer On A Roll $40M Vic Gov Deal + Global Gross Profits Up 28.3%

In Australia has just won a $40M deal with the Victorian Government Education Department, the deal is believed to have been taken from Lenovo. 

The result follows three years of losses, the profit boost of 0.5 per cent to $US56.46 million for fiscal 2014 follows a major restructure of the Company.

 In Australia the former CEO Charles Chung who was responsible for millions in losses was replaced by former sales director Darren Simmons who has been responsible for turning the Acer business in Australia around.  

Back in November 2013 Acer corporate President Jim Wong succeed J.T. Wang as CEO of the Company. Stan Shih the founder of Acer returned as Chairman.

Acer management have today said that they have turned its operations around with the results showing that the PC maker has stayed profitable throughout the entire 2014 year.

On a sequential basis, Acer’s fourth quarter consolidated revenues were $US2.71 billion, up 0.3 per cent quarter-on-quarter or down 0.8 per cent year-on-year. Gross profits were $US232.09 million, representing growth by more than sixfold and 8.6 per cent margin.