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Electronic-acoustic device maker GoerTek profits surge 59%

By Tong Hao (chinadaily.com.cn)
Updated: 2009-03-17 14:12

GoerTek Inc, a top micro electro-acoustic device producer in China, posted a 59.1 percent increase in its net profits in 2008, driven by strong exports.

Business revenue of the Shandong-based company increased by 57.04 percent year-on-year to 1.01 billion yuan ($148 million), realizing a net profit of 122.6 million yuan, according to the annual financial report the company filed to the Shenzhen Stock Exchange on Tuesday.

GoerTek, whose products are used in mobile phones and notebook computers， said the major reason for the increase is the success of its strategy of focusing on big clients.

The report said business revenue of the company increased steadily during the first three quarters due to development of downstream industries and growth of its products. But during the fourth quarter, its business revenue declined because of the global financial crisis.

In 2008, export revenue jumped 61.51 percent from a year earlier, accounting for 63.92 percent of its gross business revenue.