10.15.2001
Micro-Star posts slightly lower Sept. revenue

• First-tier motherboard manufacturer, Micro-Star, reported accumulated sales in the first three-quarters to be NT$24bn, achieving 78% of its annual estimate of NT$31bn despite a 10% MoM decline in Sept. sales. Looking ahead, we expect performance from Micro-Star as the firm’s capacity in Bou-An, China, has begun to produce MB (500k pieces/monthly) and Bare-Bone systems. Further Medion the largest distributor in Europe has placed orders with shipment slated for October. On this counter, we continue to maintain our rating.