Acer Posts a Profit for Third Consecutive Quarter, Hires a New CEO

[[Coi] Mr.CLuBBeR]

What a difference a year makes

This time last year, Acer was reporting a $442.19 million dollar loss along with an operating loss of $86.61 million, which it attributed to the gross margin impact of gearing up for the Windows 8.1 sell in and related management of inventory. Fast forward a year and things are looking up with Acer reporting a third quarter profit after tax (PAT) of $21.38 million along with operating income of $36.27 million.
It's the third straight profitable quarter for Acer, which also reported consolidated revenue of $2.82 billion, down 7 percent year-over-year but up 5.3 percent sequentially. And though Acer didn't provide PC shipment data of its own, the company cited IDC's numbers showing a 13.3 percent year-on-year increase.
"The achievement in Q3 was the result of a good product mix, new product announcements, and back-to-school demand. In Q4 Acer expects the seasonal promotions among its regions to continue the steady growth momentum," Acer said.
Acer also found itself a new CEO. Effective January 1, 2015, Jason Chen will step into the role as Corporate President and CEO. Chen comes to Acer from TSMC where he was serving as the company's senior vice president of Worldwide Sales and Marketing.
"Jason is an excellent manager with extensive management experience and proven execution capability. Acer’s search committee met with him on several occasions for in-depth dialogue and exchange of views. We consider him to be the ideal executive to lead our transformation with his wealth of new thinking, international perspective, and willingness to face this challenge," Acer Chairman Stan Shih said in a statement. "Moreover, he shares the consensus on our strategy and development for Acer’s future."
Chen has also held a variety of sales and marketing positions at Intel, where he worked for 14 years. Prior to that, he worked at IBM Taiwan from 1988 to 1991.
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