Gintech Corporation, a Taiwan-based PV cell manufacturer, announced its unaudited monthly financial report for March, 2016. Although the net sales dropped 6.5% from February to NT$1.515 billion, they still represented an 82.1% annual growth compared to March 2015.
Gintech’s report shows that the net sales in February 2016 was NT$1.621 billion, 7.3% lower than NT$1.747 billion in January 2016. Net sales in March further decreased from February. Nonetheless, Gintech met a rapid annual growth as the net sales in last March was NT$832 million.
Quarterly, the net sales in the first quarter of 2016 was NT$4.883 billion, increased by 10.5% from NT$4.421 billion in the fourth quarter of 2015 and 58.9% from NT$3.073 billion in the first quarter of 2015.
Gintech’s month revenue for March has decreased sequentially due to, mainly, product mix changes, the company still maintained their capacity at full utilization. Monthly shipment increased 60% y-o-y as end demand remained solid.
Gintech is “cautiously optimistic about the industry outlook and remain confident of our position with our customer diversification and extensive product offerings,” note in the announcement.