Acer's New Zealand business back in black
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Acer Computer’s New Zealand business has bounced back into the black in its latest financials, after recording a 7% increase in revenue for the year.
The Taiwanese PC company recorded revenue of $54.7 million for the year ending 31 December 2016, up from $51.0 million a year earlier.
Reductions in distribution expenses and income taxes helped the company to a $767,920 profit for the year. The profit follows several years of losses for Acer in New Zealand. In 2015 it recorded a loss for the year of $1.03 million, while in 2014 it had recorded a loss of $72,111.
The company recorded an operating profit of 180,880 before financing income of $753,053 bolstered its profit before tax to $933,933, up from $137,803 a year earlier. The financing income came largely from net foreign exchange gains of $699,413.
Income tax of $166,013 was recorded, down from the previous year’s $1.2 million.
Globally the company reported revenue of NT$232.7 billion for the year ending December 31, 2016, with a total comprehensive loss of NT$6.6 billion after booking NT$6.34 billion in intangible asset impairment losses largely due to its 2012 acquisition of iGWare, a cloud computing company.
The new deal will see Cyclone offering Acer products including the Travelmate notebooks, modular and all-in-one Veriton desktops, monitors and Switch tablets, to schools, tertiary institutions and agencies via the all of government procurement process.