Acer’s loss worse than expected
Print Edition
Acer Inc, the world’s No. 4 PC vendor, yesterday posted a worse-than-expected net loss of NT$13.12 billion (US$446 million) in the third quarter, with the company aiming to revamp itself with a new CEO and job cuts.
The troubled company said President Jim Wong will succeed J.T. Wang as CEO, and that it will cut its global staff by 7 percent, a move aimed at saving operating expenses of US$100 million annually from 2014.
“Q3’s operating loss was mainly due to the gross margin impact of gearing up for the Windows 8.1 sell-in and the related management of inventory,” the company said in a statement.
Acer said there was also an intangible asset impairment loss, which includes trademarks and goodwill, of NT$9.94 billion during the reporting period.
Sixteen analysts polled by Thomson Reuters SmartEstimates had forecast a median loss of NT$109 million for the quarter.
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