08.31.2001
D-Link announces positive 1H01 results

• Development: D-Link announced 1H01 results of NT$7.6bn in revenue, 36% growth (YoY). Operating income surged to NT$511m, 89% growth (YoY) boosting net income to NT$624m, 71% up (YoY) with EPS of NT$1.65.

• Analysis: Net income reached 58% of company’s target, in line with our estimates. However, a 36% (YoY) drop in investment income reflects poor performance from own brand retail business during current worldwide economic depression. Firm is currently investing heavily in MAN/WAN, which may realize positive results in 2001.

• Primasia View: Long-term, D-Link’s outlook remains positive, thus we maintain our current rating.