Asia Pacific Wire & Cable Corporation Ltd. Reports 2019 Financial Results

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[{"type":"text","content":"TAIPEI, Taiwan, April 30, 2020 (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 the Company's financial results for the twelve months ended December 31, 2019. Unless otherwise indicated, all data are reported in U.S. dollars at the exchange rate prevailing on the date of the event or result reported.\n Full Year 2019 Financial Results (Ended December 31, 2019), and 2018 comparative results FY 2019 FY 2018 CHANGERevenues$338.2 million $425.9 million (20.6) %Operating Profit/(Loss)$(0.6) million $8.7 million (107.5) %Net Income/(Loss)$(1.6) million $2.9 million (155.7) %EPS (1)$(0.12) $0.21 (157.1) % (1)The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the twelve months ended December 31, 2019 and 2018, respectively. Full Year 2019 Results Revenues for the twelve months ended December 31, 2019, were $338.2 million, a decrease of 20.6%, from $425.9 million in the prior year. Net revenue in the Company’s Thailand region decreased by 19.2%, primarily due to the postponement of the delivery of products per the request of a major client. Revenues in the Company's North Asia region decreased by 26.1%, primarily due to the negative impact of the trade war between the United States and China. Revenues in the Company's Rest of World (\"ROW\") region decreased by 18.1%, primarily due to intense competition. The Company’s North Asia region includes China and Hong Kong; the Thailand region contains the operations and sales inside Thailand and Thai exports; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region. Operating profit for the twelve months ended December 31, 2019 decreased by 107.5% to $(0.6) million from $8.7 million in the same period last year. Operating margin decreased by 109.3%, declining from an operating profit margin of 2.0% in 2018 to an operating loss margin of (0.2%) in 2019. In the Thailand region, operating profit margin declined from 4.5% to 1.8%, which was attributable primarily to decreased sales of high...

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