Comeback Kid Acer Resurge
After a string of losses and management upheaval, it looks like Acer is back on track, announcing a small profit of US$37,000, for Q1 2014, marking a 16% jump year-on-year.
After suffering three consecutive quarters of losses, operating income rose by $3.3 million to $4.2 million, attributed to better control of inventory and costs and stabilizing gross profit.
However, first quarter revenue slipped to US$2.51 billion – down 11%.
Of late, Acer has released eye catching devices including the super cheap A$249 Iconia tablet and is set to release cloud based notebooks, two-in-one 10-inch Windows 8.1 notebooks and Liquid Leap wristband, this year.
Acer’s board also approved the cancellation of 55.6 million treasury stocks (or 1.96% of outstanding shares), resulting in a new equity capital of $910.9 million.
Q1 earnings per share was just NT$0.0004.