Taipei, Oct. 26, 2012 (CENS)--Rexon Industrial Corp., Ltd., a maker of pneumatic tools in Taiwan, has garnered orders from WARN Industries, Inc., a major auto parts maker in North America.
With over 60% market share for automotive winches globally, WARN is affiliated with Dover Group, a Fortune Global 500 firm, to be a top-500 corporation by revenue.
Rexon began in July shipping snow throwers and impellers, transmissions and winches to WARN, whose orders will generate estimated revenues of about US$3 million this year.
With the slow recovery of the U.S. economy, Rexon has been promoting four new types of desktop power tools dubbed "KOBALT" this year, and launched the new products via Lowes, a retail chain of home improvement and appliance in the United States.
Rexon's revenues totaled NT$2.287 billion (US$76.23 million) in first nine months, soaring 30.91% year on year (YoY) from NT$1.747 billion (US$58.23 million), with after-tax earning per share (EPS) of NT$0.14 (US$0.0046) in the first half. The firm will likely generate annual revenue growth of over 30%, forecasts institutional investors.
The firm posted combined revenues of NT$2.527 billion (US$84.23 million) in 2011, decreasing 25.68% from NT$3.4 billion (US$113.33 million) in 2010, with pre-tax loss of NT$115 million (US$3.83 million) and after-tax net loss of NT$118 million (US$3.93 million), and after-tax loss per share of NT$0.52 (US$0.0173) in 2011.
(by Renee Chen)
