Acer cuts annual sales estimate by $620m

Will make NT$100bn target next year instead. So that's all right then...

Taiwanese computing giant Acer has admitted it will make around $620 million (NT$20 billion) less revenue for the current fiscal year than it originally expected.

Earlier this year, Acer predicated annual revenues of NT$100 billion ($3.1 billion), but with sales over the first three quarters off by 59 per cent, the company now reckons it will only pull in NT$80 billion ($2.47 billion).

And that includes NT$20 billion of revenue from Acer-affiliated operations.

Still, in true Taiwanese fashion, Acer president K Y Lee was bullish about the company's revenue downturn. If we don't make NT$100 billion this year, we sure as heck will next year, he effectively said.

Acer reported after-tax earnings of NT$3.52 billion ($109.17 million) for the first nine months of the year, around 70 percent of its full-year projection of NT$5.05 billion ($156.39 million).

However, Q3 earnings were 98 per cent of what Acer had predicted, so the company is confident that it will make its revised annual revenue projection thanks to improved productivity and cost controls, said company VP K Y Yu. ®

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