09.06.2001
Wintek's August sales down 12% YoY

• Development: Wintek reported August revenues of NT$537m, reflecting 7.6% growth MoM and 12% decline YoY. Up to August, accumulated sales contracted 19% YoY.

• Analysis: Wintek's YoY sales decline is primarily due to sluggish handset demand which should continue bar seasonal up-tick toward year-end. We have revised down our ‘01 revenue forecast by 7%.

• Primasia View: We continue to post an Underperform rating as profit deterioration and an unattractive valuation will likely impact year-end results.