Welcome to our dedicated page for Asia Pacific Wir news (Ticker: APWC), a resource for investors and traders seeking the latest updates and insights on Asia Pacific Wir stock.
Asia Pacific Wire & Cable Corporation Limited (APWC) provides essential infrastructure solutions through its telecommunications cables, power transmission products, and engineering services across Asia Pacific markets. This page serves as the definitive source for verified company developments, offering stakeholders timely access to operational updates.
Investors and industry professionals will find curated press releases detailing APWC's manufacturing innovations, regional expansions, and strategic partnerships. Key content includes earnings announcements, product line enhancements, and project engineering milestones across North Asia, Thailand, and international markets.
All materials are organized to facilitate efficient tracking of the company's performance in wire and cable manufacturing. Regular updates ensure awareness of APWC's role in telecommunications infrastructure and power distribution networks. Bookmark this page to monitor how the company addresses evolving demands in electrical contracting and public sector projects.
Asia Pacific Wire & Cable (APWC) has announced the appointment of James Lu as acting Chief Financial Officer (CFO), following the resignation of Ivan Hsia. Lu, who has been with APWC for 16 years, previously served as Deputy CFO and held senior roles in Corporate Planning and Strategic Sales. He brings experience in implementing SAP Business Planning systems and has prior experience as Senior Manager of Overseas Business and as an auditor. Hsia will remain with the company through November 25, 2024.
Asia Pacific Wire & Cable (NASDAQ: APWC) reported its financial results for the six months ended June 30, 2024. Revenues increased by 10.8% to $214.3 million, up from $193.5 million in the same period of 2023. The company saw revenue growth across its Thailand, North Asia, and Rest of World regions. Operating profit improved significantly, reaching $1.2 million compared to a loss of $2.8 million in the previous year. However, net income turned negative at $-0.5 million, down from $0.02 million in 2023. The company's cash position decreased to $33.7 million as of June 30, 2024, compared to $39.0 million a year earlier. APWC reported cash used in operating activities of $10.8 million, primarily due to slower accounts receivable collection.
Asia Pacific Wire & Cable (NASDAQ: APWC) will host its 2024 Annual General Meeting on July 15, 2024, at 9:00 am CDT or 10:00 am EDT in Plano, Texas. The meeting aims to approve the written record of the previous AGM, set the number of directorships between two and seven, elect up to seven directors, approve director compensation, present audited financial statements for the fiscal year ending December 31, 2023, and appoint PricewaterhouseCoopers Taiwan as the independent auditor for 2024.
The record date for voting is May 31, 2024. Shareholders of record can vote in person or by proxy and may participate via conference call.
Asia Pacific Wire & Cable reported its full-year 2023 financial results and filed its annual report for 2023, revealing a revenue decrease of 1.9% to $425.8 million. The operating profit declined by 80.8% to $1.5 million, while net income remained flat at $3.9 million. The company saw revenue increases in the Rest of World region but experienced declines in the Thailand and North Asia regions. Overall, the financial performance was impacted by government spending reductions, the Sino-American trade war, and increased competition.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported its financial results for the year ended December 31, 2022, with revenues of $433.9 million, a 9.0% decrease from $476.7 million in 2021. The decline was largely driven by reduced sales in Thailand and North Asia. Operating profit was $8.1 million, a turnaround from a loss of $5.0 million in 2021, with an improved operating profit margin of 1.9%. Net income rose to $3.9 million, compared to a net loss of $2.6 million the previous year. Cash and cash equivalents increased to $54.0 million, up from $44.5 million. APWC experienced challenges including a 13.1% revenue drop in Thailand and a 27.8% decrease in North Asia, impacted by geopolitical tensions and supply chain issues. The company saw better performance in its Rest of the World region with a 7.5% revenue growth.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported financial results for the nine months ending September 30, 2022. Revenues decreased by 6.0% to $310.7 million, primarily due to declines in Thailand and North Asia regions. Operating profit fell 41.5% to $3.8 million, with a margin decrease to 1.23%. Net income improved to $0.6 million from a net loss of $1.4 million in 2021. The company saw cash reserves rise to $47.5 million and reported $5.7 million in cash from operating activities, a significant recovery.
Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) reported a decline in revenues for the first six months of 2022, totaling $207.4 million, down 8.0% from $225.3 million in 2021. This drop was driven mainly by reduced sales in the Thailand and North Asia regions, adversely affected by economic conditions and currency depreciation. The company faced an operating profit of $1.8 million, a decrease of 63.4%, leading to a net loss of $0.3 million. Cash and cash equivalents remained stable at $44.6 million, with a working capital of $160.4 million as of June 30, 2022.
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