Taiwan's Acer reports Q4 net loss following write-down
Taiwan's leading personal computer maker Acer has announced a larger than expected fourth-quarter net loss after a write-down of the value of its brands, including Gateway and Packard Bell.
The company, in a statement seen Wednesday, reported a net loss of Tw$3.37 billion (US$115.5 million) for October-December compared to a profit of Tw$75 million in the same period a year earlier.
The poor fourth-quarter figure meant Acer reported a full-year net loss despite remaining profitable for the first three quarters of 2012.
The full-year net loss was Tw$2.91 billion compared to a loss of Tw$6.6 billion in 2011.
The company said it would have made a profit of Tw$586 million last year without the write-down.
Acer, which has been struggling to branch into the tablet computer sector, was forced to cut hundreds of jobs in 2011 after suffering heavy losses due to weakening demand in Europe and the United States.
(c) 2013 AFP