Acer posts annual loss after new asset writedown

Friday 17 January 2014 | 11:55 CET | News
Acer reported a net loss of TWD 7.63 billion (USD 274.4 million) for the fourth quarter, after writing off TWD 1.3 billion in raw materials inventory and other costs. The latest write-down is expected to help in the company's ongoing restructuring, giving new management a clean slate to develop the group's product strategy. Senior executives have also taken voluntary salary cuts of 30 percent from January, Acer said. The group's revenues amounted to TWD 86.7 billion in Q4, down by 5.9 percent from Q3, and it recorded an operating loss of TWD 8.22 billion. The result was also affected by USD

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Categories: IT / Mobile & Wireless
Companies: Acer
Countries: World
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