9 March 2009
Foxconn International Holdings (FIH), the Hong Kong-listed handset subsidiary of Foxconn Electronics (Hon Hai Precision Industry), is unlikely to see its gross margins improve in the first half of 2009 due to lower demand and capacity utilization rates, and an unfavorable product mix, the Chinese-language Economic Daily News (EDN) quoted Merrill Lynch as indicating.
Merrill Lynch also projected that FIH will see its revenues decline 16% sequentially in the first quarter of this year. Overall, FIH is expected to book a net EPS of HK$0.15 (US$0.0193) for all of 2009, according to the report.
The projection came after FIH's report of net earnings of US$121 million for 2008, representing a net EPS of US$0.0172, the company said.
