Acer Reports FY2020 Financial Results: Net Income NT$6.03 Billion, EPS NT$2.01

Rhea-AI Summary

Acer reported robust financial results for Q4 and fiscal 2020, with consolidated revenues reaching NT$82.62 billion for the quarter and NT$277.11 billion for the year. The company achieved a historical operating income of NT$3.88 billion and a net income of NT$1.99 billion in Q4, resulting in an EPS of NT$0.67. Full-year net income stood at NT$6.03 billion, with an EPS of NT$2.01. Additionally, Acer declared a cash dividend of NT$1.5 per share, a 93.1% increase YoY, indicating strong shareholder returns.

Positive

• Q4 consolidated revenues of NT$82.62 billion.
• Historical operating income of NT$3.88 billion in Q4.
• Full-year net income of NT$6.03 billion, up from previous year.
• 93.1% YoY increase in cash dividend to NT$1.5 per share.

Negative

• None.

TAIPEI, March 17, 2021 /PRNewswire/ -- Acer Inc. (TWSE: 2353) announced the financial results for the fourth quarter of 2020 and fiscal 2020 ended December 31. For the fourth quarter, Acer reported consolidated revenues of NT$82.62 billion; gross profits of NT$9.63 billion with 11.7% margin; operating income of NT$3.88 billion, with 4.7% margin to set a historical high; net income^[1] of NT$1.99 billion, and earnings per share (EPS) of NT$0.67.

For the full year of 2020, Acer reported consolidated revenues of NT$277.11 billion, gross profits of NT$30.12 billion with 10.9% margin, operating income of NT$8.94 billion with 190.3% in YoY growth, net income of NT$6.03 billion with 3.2% margin, and EPS of NT$2.01.

Acer's Board of Directors also approved a cash dividend of NT$1.5 per share, up 93.1% YoY, based on ex-dividend record date of July 6 for distribution on August 5.

Acer's strategy to build multiple business engines continued to make progress. Weblink International and Acer e-Enabling Business plan to be listed on the Taiwan Stock Exchange and the Taipei Exchange respectively in 2021. The annual shareholders' meeting will be held on June 11, 2021 at Aspire Park in Taoyuan.

[1] Net income is reported as profit-after-tax in Acer's financial statements

About Acer

Founded in 1976, Acer now is one of the world's top ICT companies and has a presence in over 160 countries. As Acer looks into the future, it is focused on enabling a world where hardware, software and services will fuse with one another to open up new possibilities for consumers and businesses alike. From service-oriented technologies to the Internet of Things to gaming and virtual reality, Acer's 7,000+ employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

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SOURCE Acer

FAQ

What were Acer's EPS and net income for Q4 2020?

Acer reported an EPS of NT$0.67 and a net income of NT$1.99 billion for Q4 2020.

What was Acer's total revenue for fiscal year 2020?

Acer's total revenue for fiscal year 2020 was NT$277.11 billion.

When will Acer distribute its cash dividend?

Acer will distribute its cash dividend on August 5, 2021.

What is the net income reported by Acer for the full year of 2020?

Acer reported a net income of NT$6.03 billion for the full year of 2020.

What was the increase in Acer's operating income for fiscal 2020?

Acer's operating income increased by 190.3% YoY to NT$8.94 billion for fiscal 2020.