GMI Technology News

G.M.I. Technology Inc. (Public, TPE: 3312) today announced financial results for the 2nd quarter and 1st half of fiscal year 2013. For the three month period ending June 30, 2013 net revenue was a record US$ 119.1 million, an increase of 9% versus the prior quarter and an increase of 10% versus the same period in 2012. For the three month period ending June 30, 2013 after-tax net profit was US$ 674K, an increase of 42% versus the same quarter in 2012. For the six month period ending June 30, 2013 net revenue was US$ 228.5 million, an increase of 8% versus the same period in 2012 and also a record for the company. Commenting on the announcement, Lewis Lo, president of G.M.I., said “We are extremely proud to post our 6th consecutive quarter of year-over-year sales revenue growth. Our net profit for the quarter also exceeded our expectations in what is a still challenging worldwide economic situation. As announced previously, we are also very pleased with the results for the 1st six months of operations of GW Electronics, a GMI joint venture in partnership with Willas-Array Electronics that was announced in November 2012. In addition the benefits from our…

GMI Technology Inc. (Public, TPE: 3312) announced today the results for the 1st six months of operations of GW Electronics Company Limited. GW Electronics is a GMI joint venture in partnership with Willas-Array Electronics (Holdings) Limited that was announced in November 2012. For the six month period ending June 30, 2013 net sales revenue was over US$ 70 million, significantly exceeding the business plan. The majority of sales were from semiconductor products sourced from Toshiba. Commenting on the announcement, Lewis Lo, GMI president, said, “We are very excited with the fast start to this strategic venture. Customer shipments started ahead of schedule and sales revenue was well above target. In addition GW Electronics was profitable in the 1st six months of operations. We are optimistic on the continued success of the venture and the expansion to new customers and markets in mainland China.” 

GMI Technology Inc. (Public, TPE: 3312) announced that they have engaged into a partnership with STK Corporation. Under the jointly signed agreement GMI will design in and distribute STK’s line of ceramic heat sink products. Target applications include networking, routers and hubs, set top boxes and TVs. Initial shipments to customers started earlier this quarter. Commenting on the announcement, Joseph Tong, GMI vice president, said, “We are very pleased to partner with a company of STK’s capabilities. They have an excellent range of proven heat sink products. Many of the end user solutions that utilize STK’s technology will be produced in mainland China where GMI is very strong.”   “We are very pleased to partner with a company with GMI’s capabilities,” stated Mike Liao, STK President. “GMI’s strong engineering and sales teams and strength across Greater China will be very valuable to enable STK to reach our growth targets”.

GMI Technology Inc. (Public, TPE: 3312) announced that it has entered the security chipset market by partnering with Gemalto. Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with more than 13,000 employees located in 43 countries. GMI will initially target the point-of-sale (POS) and EMV banking card markets in mainland China. Commenting on the announcement, Lewis Lo, GMI President, said, “We are excited to enter this fast growing strategic market via our new partnership with Gemalto. They have an impressive range of high quality and high performance security hardware and software products. Our initial customers are very pleased with the products we have delivered.”   “We are very pleased to partner with a company with GMI’s capabilities,” stated Philippe Inserra, Gemalto Vice President APAC. “GMI’s strong engineering and sales teams, and strength in Greater China will enable us to reach our aggressive growth targets”.

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 1st quarter of fiscal year 2013. For the three month period ending March 31, 2013 net revenue was US $ 109.4 million, an increase of 6% versus both the prior quarter and the same quarter in 2012. After-tax net profit for the period was US$ 1.1 million, versus an after-tax net loss of US$ 282 thousand in the same quarter in 2012 and in increase of 61% over the prior quarter. Commenting on the announcement, Mr. Lewis Lo, president of GMI, said, “We are very pleased with our continued consistent revenue growth in what is traditionally a slow quarter, and our net profit results were well above our expectations. GMI also entered into several new customer and vendor partnerships during the quarter, and successfully started shipments ahead of schedule from our joint venture with Willas-Array Electronics announced last November. Despite some ongoing challenges in some sectors of the worldwide economic environment, GMI iso ptimistic about the remainder of 2013 and our long term growth.“

GMI Technology Inc. (Public, TSEC: 3312) today announced financial results for their 4th quarter and fiscal year 2012. For the quarter ending December 31, 2012 net revenue was US$ 102.8 million, an increase of 3.5% versus the same quarter in 2011. For the twelve month period ending December 31, 2012 net revenue was a record US$ 428.2 million, an increase of 7.5% versus 2011, with an after-tax profit of US$ 1.3 million for the year. Over the past decade GMI’s net revenues have increased approximately 23% per year, among the leaders in their business segment. Commenting on the announcement, Mr. Lewis Lo, president of GMI said, “We are pleased to report our 6th consecutive year of annual sales growth in light of some challenges beyond our control. The worldwide economic situation has not recovered as quickly as anticipated and there was significant unexpected price erosion in some technology segments. Fortunately GMI was able to overcome these challenges with prior operational and strategic actions taken to improve our competitiveness, resulting in an after-tax net profit for the year. In addition we added valuable new customer and vendor partnerships during the year, and also entered new high growth markets. Although we remain…

GMI Technology Inc. (Public, TPE: 3312) announced has entered the rapidly growing market for heat sinks. The company has partnered with XBRIGHT who will initially the technology. GMI will initially focus on delivering solution manufacturers copper heat sinks for tablet PC and smart phone applications. Initial shipments to customers started earlier this quarter. Commenting on the announcement, Joseph Tong, GMI Vice President of New Business Development, said, “We are excited to enter this emerging market via our partnership with XBRIGHT. Their technology is well proven and will enable GMI to quickly penetrate this business segment. The majority of end user solutions for this fast growing market will be produced in mainland China where GMI is very strong.”

GMI Technology Inc. today announced record shipments of hard disk drives (HDDs). For the year ending December 31st, 2012 unit shipments increased 37% from the previous year. The majority of the HDDs were sourced from Toshiba, GMI’s primary storage partner. Commenting on the announcement, Eric Wang, vice president of GMI, said, “We are extremely pleased with the continued growth in our HDD business, and are proud to be one of the fastest growing HDD providers in the rapidly growing Greater China market. In addition to our excellent unit shipment growth, we significantly increased our sales revenue from this segment. Hard disk drives are a strategic focus for GMI and complement our other consumer electronics and IT product lines well. HDDs are now our largest single product line and we continue to be very optimistic about GMI’s future growth in this segment. We greatly appreciate the outstanding support from Toshiba, our long time strategic storage partner, to enable our achievements.” "We continue to be very happy to partner with a company with GMI’s capabilities,” stated Ryusuke Kashiwabara, Toshiba Digital Media Network Marketing senior manager. “GMI’s strong engineering and sales teams, broad market coverage, and strength in Greater China will be a…

November 19, 2012 – GMI Technology Inc. (“GMI”), a premier Greater China electronics distributor listed on the Taiwan Stock Exchange, and Willas-Array Electronics (Holdings) Limited (“Willas-Array”), one of the largest Hong Kong based distributors of electronics components and listed on the Singapore Exchange, announced today that they have entered into a joint venture agreement. Under the agreement, a joint venture company by the name of GW Electronics Company Limited has been formed, and the company will be an authorized distributor of Toshiba Semiconductor. The major focus of this new company will be to distribute Toshiba semiconductor products in mainland China and Hong Kong. The operation of the JV is expected to start from early next year. Commenting on this announcement, Willas-Array Chairman, Mr. Lawrence Leung said, “We are delighted to be expanding our distribution business through this valued partnership with GMI Technology This will aid our company’s further expansion into our main target markets of mainland China and Hong Kong.” Mr. Lewis Lo, GMI Technology President, added, “We are very excited to align with Willas-Array in this venture. In addition to the benefits to our two companies, more importantly this will enable Toshiba to continue their semiconductor business expansion in…

GMI Technology Inc. (Public, TPE: 3312) has announced financial results for the 3rd quarter of their fiscal year 2012. For the three month period ending September 30, 2012 net revenue was a record US$ 113.4 million, an increase of 21% versus the same period in 2011. After-tax net profit for the three month period was US$ 444K, a decrease of 6.5% versus the prior quarter in 2012. For the nine month period ending September 30, 2012 net revenue was a record $US 325M an increase of 9% versus the same period in 2011. Commenting on the announcement, Lewis Lo, president of GMI Technology, said, “We are excited to once again achieve record net revenue results for both the recent quarter and on a year-to-date basis. While our net profit results were disappointing, we have taken actions to minimize the impacts of factors beyond our control coupled with numerous initiatives within our control to maximize our chances for ongoing success. Despite some continued difficulties in the worldwide economic environment, GMI Technology continues to be very optimistic about our long term future revenue and profit growth.” Detailed financials can be found on GMI Technology’s website at www.gmitec.com.

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 2nd quarter and 1st half of fiscal year 2012. For the three month period ending June 30, 2012 net revenue was a record US$ 108.5 million, an increase of 5% versus the prior quarter and an increase of 2% versus the same period in 2011. For the three month period ending June 30, 2012 after-tax net profit was US$ 475K, an increase of US$ 757K versus the prior quarter. For the six month period ending June 30, 2012 net revenue was US$ 212.0 million, an increase of 3% versus the same period in 2011 and also a record for the company. Commenting on the announcement, Lewis Lo, president of GMI Technology, said “We are very pleased with the continued growth in our sales revenue both in the last quarter and year to date, especially in light of the continued very challenging worldwide economic situation. We are also encouraged by our good profit growth in the past quarter, as we continue to aggressively focus on maximizing our gross profit and minimizing our expenses through numerous ongoing actions. We continue to see benefits from our growing product portfolio and new…

GMI Technology Inc. (Public, TPE: 3312) today announced that their board of directors and shareholders have approved a stock share dividend. The dividend payment will be 1.00 NTD per share (9.0% at the time of approval) and will be distributed August 15, 2012. Dividend is to be issued to all shareholders on record as of July 09, 2012. This is the third consecutive year that G.MI. has issued a dividend to their shareholders.

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 1st quarter of fiscal year 2012. For the three month period ending March 31, 2012 net revenue was US $ 103.5 million, an increase of 5% versus the same quarter in 2011. After-tax net loss for the period was US$ 282 thousand, versus an after-tax net profit of US$ 653 thousand in the same quarter in 2011.          Commenting on the announcement, Mr. Lewis Lo, president of GMI Technology, said, “While we are very pleased with our continued consistent revenue growth in what is traditionally a slow quarter, our bottom line results were below our expectations. Our net profit results were affected by the continued appreciation of the Chinese currency resulting in a foreign exchange loss, and also due to some late postings of vendor rebates for GMI Technology incentive achievements. Despite the still recovering worldwide economic environment, GMI Technology is cautiously optimistic about the remainder of 2012 and our long term future growth.“ Detailed financials can be found on GMI Technology is website at www.gmitec.com.

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 4th quarter and fiscal year 2011. For the quarter ending December 31, 2011 net revenue was US$ 99.3 million, an increase of 6% over the previous quarter. For the twelve month period ending December 31, 2011 net revenue was a record US$ 398.2 million, an increase of 4% versus 2010. For the same twelve month period after-tax profit was US$ 4.6 million for the year, an increase of 42% versus 2010. Over the past decade GMI Technology is net revenues have increased an average of over 27% per year, among the leaders in their business segment. Commenting on the announcement, Lewis Lo, president of GMI Technology said, “We are pleased with both our top line revenue growth and bottom line profitability in 2010. Our top line growth was significantly affected by the flooding in Thailand affecting our HDD business, a rapid decline in memory prices, and the continued very challenging worldwide economic situation. GMI Technology was able to overcome these challenges with prior operational and strategic actions taken to improve our competitiveness, resulting in our bottom line net profit growth far exceeding our top line sales revenue growth.…

GMI Technology Inc. (Public, TSEC: 3312) today announced that they have acquired Sinotech Electronics Ltd., a Hong Kong based company. Sinotech Electronics was established in 1995 as a semiconductor distributer, and emerged into a company that could also provide software and turn-key solutions to a range of market segments, focused primarily on China based manufacturers. The integration of the two companies is complete and Sinotech will now operate as a wholly owned subsidiary of GMI Technology As part of the acquisition all key Sinotech customers, vendors, and employee staff joined GMI Technology Commenting on the announcement, Joseph Tong, vice president of GMI Technology New Business Development said, “We are very excited to add the assets of Sinotech to our company. They bring immediate new customer and vendor partners to GMI Technology Their expertise in the Home Appliance market fits well with one of our key strategic initiatives. The fact that both GMI Technology and Sinotech have engineering resources located in Wuhan, China has given the partnership a fast start. Shipments of products previously under Sinotech have already started in volume by GMI Technology We are optimistic about what this new partnership brings to our valued customers and we will continue…

GMI Technology Inc. (Public, TPE: 3312) has announced financial results for the 3rd quarter of their fiscal year 2011. For the three month period ending September 30, 2011 net revenue was US$ 93.5 million, a decrease of 7% versus the same period in 2010. After-tax net profit for the three month period was US$ 908K, an increase of 24% versus the same period year ago. For the nine month period ending September 30, 2011 net revenue was a record $US 299M an increase of10% versus the same period in 2010.  Commenting on the announcement, Lewis Lo, president of GMI Technology, said, “We are pleased with our strong improvement in our net profit, especially in light of the challenging worldwide economic situation. Our net revenue results were disappointing from a year over year standpoint, but on a year to date basis we are on track to our business target for 2011. Despite the continued difficult worldwide economic environment, coupled with the potential impact of the Thailand flooding on the HDD business, GMI Technology continues to be optimistic about our long term future growth.”

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 2nd quarter and 1st half of fiscal year 2011. For the three month period ending June 30, 2011 net revenue was a record US$ 106.7 million, an increase of 34% versus the same period in 2010. For the six month period ending June 30, 2011 net revenue was US$ 205.4 million, an increase of 20% versus the same period in 2010 and also a record for the company. For the three month period ending June 30, 2011 after-tax net profit was US$ 909K, a decrease of 16% versus the same period in 2010 and an increase of 39% versus the prior quarter in 2011. Commenting on the announcement, Lewis Lo, president of GMI Technology, said “We are very pleased with the strong growth in our sales revenue in the last quarter and year to date, especially based on the very challenging worldwide economic situation. Unfortunately our bottom line results were below our objectives due to declining market prices for some of our key product lines, as well as foreign currency exchange losses. We are encouraged by our good profit growth the past quarter versus the prior sequential quarter,…

GMI Technology Inc. (Public, TPE: 3312) today announced that their board of directors have approved a stock share dividend. The dividend was previously approved by the shareholders. Total dividend payment will be 39 million NTD and will be distributed August 24, 2011. Dividend to be issued to all shareholders on record as of July 24, 2011.

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 1st quarter of fiscal year 2011. For the three month period ending March 31, 2011 net revenue was US$ 98.8 million, an increase of 7.3% versus the same quarter in 2010. After-tax profit for the period was US$ 653K, versus US$ 1.6M in the same quarter 2011. Commenting on the announcement, Mr. Lewis Lo, president of GMI Technology, said, “While we are very pleased with our continued consistent revenue growth, our bottom line results were below our expectations. Our bottom line results were affected by the continued appreciation of the Chinese currency, a decline in memory prices, and to a lesser decree supply shortages caused by the Japan earthquake. We expect some of these impacts to carry over to the current quarter and despite the still recovering worldwide economic environment, GMI Technology is cuatiously optimistic about the remainder of 2011 and our long term future growth.“  

GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 4th quarter and fiscal year 2010. For the quarter ending December 31, 2010 net revenue was a record US$ 109.6 million, an increase of 15% versus the same quarter in 2009, and an increase of 9% over the previous quarter in 2010. For the twelve month period ending December 31, 2010 net revenue was a record US$ 381.6 million, an increase of 12% versus 2009, with an after-tax profit of US$ 3.3 million for the year. Over the past decade GMI Technology is net revenues have increased approximately 30% per year, among the leaders in their business segment. Commenting on the announcement, Mr. Chia Wen Yeh, chairman of GMI Technology said, “We are pleased with both our top line revenue growth and bottom line profitability in 2010. The worldwide economic situation was very challenging throughout the year, coupled with currency exchange challenges and a rapid erosion of memory prices. GMI Technology was able to overcome these challenges with prior operational and strategic actions taken to improve our competitiveness. In addition to our positive financial results, we added valuable new customer and vendor partnerships during the year and entered…