Acer posts Q3 2011 results, loses $36.3m

Acer posts Q3 2011 results, loses $36.3m
Acer posts Q3 2011 results, loses $36.3m
A net profit for the year, or even a break even, remains in the realm of impossibility for the Taiwanese manufacturer

Acer just can’t seem to catch a break, as their latest financial results for the quarter have actually turned out worst than what most analysts originally expected.

According to Reuters, Acer posted a net loss of T$1.1 billion, or $36.37 million USD, when analysts predicted a loss of only T$807.5 million. Revenue was also down by about 30 percent from Q3 2010, likely due to lowered production and sales.

Still, Acer Chairman J.T. Wang was expecting losses for the third quarter anyway, which at least turned out nowhere as bad as the $234.3m loss during Q2 2011. A full-year profit goal remains virtually impossible for the Taiwanese manufacturer.

The advent of the aggressively priced Kindle Fire may also prove to be a huge dent to Acer in the tablet department. The company is hoping to make a splash in the new Ultrabook category, however, with the $900 13.3-inch Aspire S3.

Lenovo recently overtook Acer as the third largest PC manufacturer worldwide as Acer continues to struggle in the netbook and tablet markets.

Source(s)

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Author: Allen Ngo, 2011-10-22 (Update: 2012-05-26)