Asia Pacific Wire & Cable Corporation Limited Announces Filing of Annual Report on Form 20-F for 2021 and Full Year 2021 Financial Results

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[{"type":"text","content":"TAIPEI, Taiwan, May 03, 2022 (GLOBE NEWSWIRE) -- Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) (\"APWC\" or the \"Company\"), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced (1) that on April 29, 2022, it filed its annual report on Form 20-F (the \"Form 20-F\") for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission; and (2) its financial results for the twelve months ended December 31, 2021. Unless otherwise indicated, all amounts are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. Annual Report on Form 20-F The Form 20-F can be accessed by visiting either the SEC's website at www.sec.gov or the Company's website at https://www.apwcc.com/. In addition, the Company's shareholders may receive a hard copy of the Form 20-F, which includes the Company's complete audited financial statements, free of charge by requesting a copy from the Company's Investor Relations contact included below. Full Year 2021 Consolidated Financial Results Full Year 2021Full Year 2020CHANGERevenue$476.7 million$313.6 million52.0%Operating (Loss)/Profit$(5.0) million$7.6 million(165.8)%Net (Loss)/Profit$(2.6) million$(0.6) million(378.6)%EPS(1)$(0.19)$(0.04)(375.0)% (1)The calculation of earnings per share is based on the 13,819,669 basic and diluted weighted average common shares that were issued and outstanding for each of the twelve months ended December 31, 2021 and 2020. Full Year 2021 Commentary Revenue for the twelve months ended December 31, 2021 was $476.7 million, an increase of 52.0% from $313.6 million for the twelve months ended December 31, 2020. The increase was primarily attributable to revenue increases across the Company’s three reporting segments: the Thailand, North Asia, and Rest of World (“ROW”) regions. Revenue in the Company’s Thailand region increased by 37.7% to $197.8 million in 2021, primarily attributable to increases in copper prices in 2021 and lower sales volumes in 2020 because of the COVID-19 pandemic. Revenue in the Company's North Asia region increased by 46.2% to $107.0 million, primarily due to increases in copper prices in 2021 and lower sales volumes in 2020 because of the COVID-19 pandemic. Revenue in the Company's ROW...

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