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Fiber-optic component and RF (radio frequency) connector maker EZconn is set to receive an overdue payment US$9.46 million from US-based PCT International following a district court ruling in Arizona, according to the company.
EZconn filed a complaint against PCT in 2015 aiming to collect account receivables owed by the US-based broadband device supplier for purchased goods. The payment of US$9.46 million includes accrued account payables and interest.
EZconn said it will be entitled to receive the payment if PCT does not appeal the case within 14 days after the court ruling.
As EZconn already recognized the overdue payment as losses previously, the incoming compensation will help boost the company’s earnings for 2017 or 2018, depending on the realization of the payment, the company noted.
The company posted revenues of NT$1.582 billion (US$52.57 million) in the first half of 2017 with a gross margin of 16.63%. Net profits for the six-month period reached NT$29.57 million, down 81.71% from a year earlier. The earnings translated into an EPS of NT$0.45 for the period.
The company noted that shipments of its 10Gb optical transceiver modules have been steady in 2017 and expects shipments of 100Gb and automotive bidirectional optical modules to contribute significantly to its revenue growth in 2018.
EZconn earning prospects improve after winning a lawsuit against PCT.
Photo: Shihmin Fu, Digitimes, September 2017
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