Acer Q2 loss exceeds forecasts,sees improvements

Taiwan’s Acer Inc reported a worse-than-expected quarterly loss,the first in its company history,hurt by one off charges. The world’s No.2 PC vendor posted a net loss of T$6.79 billion ($234.32 million) in April to June,above a consensus forecast of a T$3.3 billion loss from six analysts polled by Reuters. The figure also compared with a …

Taiwan’s Acer Inc reported a worse-than-expected quarterly loss,the first in its company history,hurt by one off charges.

The world’s No.2 PC vendor posted a net loss of T$6.79 billion ($234.32 million) in April to June,above a consensus forecast of a T$3.3 billion loss from six analysts polled by Reuters.

The figure also compared with a net profit of T$1.19 billion in the first quarter and a net profit of T$$2.65 billion in the same quarter a year earlier.

Acer attributed the big loss to $150 million in charges to clear channel inventory in Europe,$30 million for a reorganisation in Europe,inventory clear-up due to a sluggish economic situation and senior executive severance pay. In Q3 2011,Acer expects revenue growth and improved gross margin quarter-on-quarter. As for Q4 2011,Acer anticipates a stable business operation and better gross margin from Q3,the company said in a brief statement.