Acer Inc. announced the financial results for the fourth quarter of 2019 and fiscal 2019 ended December 31. For the fourth quarter, Acer reported consolidated revenues of NT$61.58 billion; gross profits of NT$6.35 billion with 10.3% margin; operating income of NT$1.17 billion, up 6.8% year-on-year (YoY) with 1.9% margin; net income[i] of NT$341 million, and earnings per share (EPS) of NT$0.11.
For the full year of 2019, Acer reported consolidated revenues of NT$234.29 billion, gross profits of NT$24.72 billion with 10.5% margin, operating income of NT$3.08 billion with 1.3% margin, net income of NT$2.63 billion, and EPS of NT$0.87.
Acer’s Board of Directors approved NT$2.36 billion in cash dividends: the sum of NT$1.35 billion from profit sharing and NT$1.01 billion from its capital surplus. With the company’s share buyback currently taking place, the exercise will lead to the distribution of more than year 2018’s NT$0.77 cash per share.
The Board also approved the nomination of the next term of directors from the current eight to seven members, of which four are independent directors. The nominees will be put forward for election at the next shareholders’ meeting to be held on June 12 in Taipei and will be livestreamed.