Solar cell maker Motech Industries has reported net profits for the second quarter of 2013, ending a string of eight consecutive quarter losses.
Consolidated revenues at Motech increased 39% sequentially to NT$5.1 billion (US$170.4 million) in the second quarter. Gross margin improved significantly to 7.4% from negative 8.03% in the prior quarter, while operating margin came to 2.4% in the second quarter compared to negative 16.38% in the first.
Motech earned net profits of NT$106 million, or NT$0.24 per share, in the second quarter of 2013. Net income for the first half of of the year stayed in the red, however.
Motech reported net losses of NT$530 million, or NT$1.21 per share, for the six-month period ended June 30, 2013. But the losses showed significant improvement compared to the losses of NT$3.23 billion reported for the same period of 2012.
Motech generated consolidated revenues of NT$8.77 billion in the first half of 2013, up 5.11% on year, and swung to gross profits of NT$82 million from losses of NT$1.79 billion during the same period of 2012.
Previous reports quoted Motech spokesperson Jack Hsieh as saying that the company would focus on lowering operating costs and be conservative about capex in 2013.
