Taiwan’s GET says Aug revenues halve in 2016

Taiwanese wafer manufacturer Green Energy Technology Inc (TPE:3519), or GET, saw its revenues in August 2016 slump 50% year-on-year to TWD 645.2 million (USD 20.1m/EUR 18.3m).

On a month-to-month basis, sales declined by 46.6%. In January-August 2016, GET’s revenues topped TWD 11.9 billion, which is 20% higher than in the corresponding period of 2015.

GET is the solar arm of Taiwanese electrical and electronic products maker Tatung Group. The decrease in the company’s top line result for last month was due to falling average selling prices (ASP) for its products, which it tried to offset by screening orders and serving only long-term customers in August, according to the statement.

The wafer maker said that the current industry volatility is “inevitably challenging”. Aiming to reach high-efficient markets with bigger profits, GET will continue focussing on technological advancements with the support of its strategic customers, it noted.

(TWD 10 = USD 0.312/EUR 0.284)

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