Taipei, Taiwan, 7th May 2024 - Sercomm Corporation (TWSE: 5388), a leading manufacturer of telecom and broadband equipment today announced financial results for the first quarter of year 2024.

Consolidated net sales for the first quarter of year 2024 were NT$16.19 billion, which represents a 3.4% year-over-year increase compared to NT$15.66 billion for 1Q 2023. Operating profit for 1Q’24 was $857 million, which represents a 30.9% year-over-year increase over NT$655 million for the first quarter of year 2023. Net income attributable to owners of parent for 1Q’24 were NT$674 million, which represents a 33.3% increase compared to NT$506 million for the 1Q 2023.  Based on 286.7 million weighted average shares, EPS were reported as NT$2.35 for the first quarter of year 2024. 

Table 1: 1Q 2024 Statement of Comprehensive Income

* Based on weighted average shares:286,665 thousand shares for 1Q 2024 and 256,589 thousand shares for 1Q 2023

Table 2: Balance Sheet