Fulgent Sun International, a Taiwan-based outdoor footwear manufacturer, reported mixed third-quarter results as uncertainty around US trade policy weighed on production and client orders.
The company’s performance reflects broader challenges facing Asian footwear makers, who have grappled with shifting US tariff rates on Vietnamese imports that surged from 20% to as high as 66% before settling around 30%.
For the nine months ended September, Fulgent Sun posted revenue of NT$12.72 billion (US$414 million), up 24% year-over-year. Net income reached NT$853 million (US$28 million), though growth slowed to just 8%. Earnings per share stood at NT$4.26 (US$0.14).
The third quarter told a different story. While revenue rose 6% to NT$3.82 billion (US$124 million), operating profit fell 3% to NT$298 million (US$10 million) as gross margin compressed to 17.6% from 19%. The company attributed weaker production metrics to orders placed in the second quarter that shipped during the third quarter.
Net income of NT$301 million (US$10 million) nearly tripled, though this stemmed largely from non-operating gains rather than core manufacturing strength.
Fulgent Sun produces shoes for over 50 international brands, with Europe and the Americas accounting for roughly 81% of sales. The company said it’s expanding facilities in Vietnam and Indonesia to meet client demand, though tariff-related uncertainty continues affecting order patterns across the industry.
