10.31.2001
Result - D-Link poised for comeback in 4Q

• D-Link booked net earnings of NT$124m in 3Q, a decline of 41% YoY. Revenue was down 25% QoQ to NT$3bn (EPS NT$0.24). Declines are due to a stay on VoIP orders from Clarent and the negative effect of momentous world events in Sept. High R&D and promotion costs on system integrators also contributed to the decline. Outlook for 4Q01 is positive, with revenue expected to grow 20% QoQ on the back of accelerated shipments of ADSL (of between 200k-250k units) slated for Fujitsu (JP) and Canadian telco Telus. Firm is also negotiating with telecom carriers in Japan, China and Germany on FTTH (Fiber-to-the-Home) transceivers. Rating maintained.