Unit：Apex International Co., Ltd.
Date：10th May, 2017

Apex today announced audited income statement of first quarter 2017 with consolidated revenue of NT$2.35 billion, gross margin of 11.82%, consolidated operating profit of NT$55.61 million, after tax consolidated net profit of NT$63.80 million and earnings per share of NT$0.52.
Quarter-over-quarter, first quarter consolidated revenue increased 14.00% while consolidated operating profit increased 298.27% and after tax consolidated net profit turned to be profitable. Compared to first quarter 2016, first quarter results represent a 27.77% increase in consolidated revenue, a 54.74% decrease in consolidated operating profit and a 36.68% decrease in after tax consolidated net profit.
Apex had after tax consolidated net loss of fourth quarter 2016 which resulted from increasing raw material cost and exchange loss. The raw material cost still increased in first quarter 2017; however, Apex turned bottom line to be profitable for quarter. The main reasons were the ability of the outstanding cost control and increasing the average selling price. Apex expects the profit will return to the growth in future.