Taiwan's Acer swings to profits in fourth quarter
Taiwan's leading personal computer maker Acer said Thursday it swung back into the black in the three months to December after suffering losses in the previous two consecutive quarters.
Acer said preliminary financial figures showed a net profit of $2.5 million in the period from October to December.
But for the full year 2011, Acer suffered heavy losses of $219 million, compared to profits of $499 million in the previous year.
"After the operational and strategic adjustments from the second quarter of 2011, Acer's current financial and business operation is becoming more healthy and stable," a company statement said.
The company, which has been struggling to branch into the tablet computer sector, cut several hundred jobs in Europe last year to reduce operating expenses.
Acer recorded losses of $226 million and $36 million respectively in the second and third quarters of 2011, following a profit of $42 million in the first quarter.
It has cited weakness in Europe and the United States, as well as the slowing personal computer market, for the previous quarterly losses.
(c) 2012 AFP
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