TPV reverts losses to a $28.1m profit

Thanks to robust operating performance from restructuring.

TV and monitor manufacturer TPV Technology has swung back to gains in 3Q16 with earnings of $28.1m (US$19.7m). This is compared to the losses incurred last year which soared to US$27.6m.

The improved bottomline came as the group recorded a 11.7% drop in its consolidated revenue of US$2.47 billion and a lower gross profit margin of 7.9% under the influence of the abrupt panel price increases.

"The much-improved result was attributable to a more efficient operating structure and a 18% year-on-year reduction in operating expenses," the group said.

TV shipment recorded a slight increase to 4.9m, while monitor shipment continued to be robust 11.7m.

"China continued to be the largest market for the Group, accounting for 38.4% of the total. It was followed by Europe and North America, which contributed 25% and 20% respectively.