Taiwanese apparel manufacturer Fulgent Sun International (Holding) saw its third-quarter profit plummet 70% year-on-year, primarily due to foreign exchange losses. The company reported a net income of NT$102 million (US$3.2 million) for the quarter, down from NT$337 million in the same period last year.
Despite a slight 1.58% increase in consolidated revenue to NT$3.59 billion (US$112 million), Fulgent’s bottom line was severely impacted by non-operating expenses of NT$182 million, contrasting sharply with the NT$151 million non-operating income recorded a year earlier.
The company’s earnings per share (EPS) dropped to NT$0.54 from NT$1.78, with currency fluctuations accounting for a significant NT$0.87 per share loss. The U.S. dollar’s depreciation against both the Chinese yuan and New Taiwan dollar was cited as the main culprit.
While Fulgent’s gross profit margin improved to 18.99% from 17.1% year-on-year, operating expenses rose to 10.45% of revenue, up from 8.83%. The company maintains a diversified production base, with Vietnam, Cambodia, and China accounting for 56.64%, 28.76%, and 14.6% of output value, respectively.
Management remains committed to its multi-brand strategy, focusing on the outdoor sports and leisure industry despite current headwinds.
