{"id":407404,"date":"2021-01-04T08:03:38","date_gmt":"2021-01-04T13:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407404"},"modified":"2021-01-04T08:03:38","modified_gmt":"2021-01-04T13:03:38","slug":"asia-pacific-wire-cable-corporation-ltd-reports-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/asia-pacific-wire-cable-corporation-ltd-reports-third-quarter-2020-financial-results\/","title":{"rendered":"Asia Pacific Wire & Cable Corporation Ltd. Reports Third Quarter 2020 Financial Results"},"content":{"rendered":"
\n

TAIPEI, Taiwan, Jan. 04, 2021 (GLOBE NEWSWIRE) — Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC<\/a>) (“APWC” or the “Company”), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company’s financial results for the nine months ended September 30, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n First Nine Months 2020 Financial Results\u00a0(Ended September 30, 2020), and<\/strong>
\n 2019 comparative results<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n First 9 Months 2020<\/u>\n <\/td>\n\n First 9 Months 2019<\/u>\n <\/td>\n\n CHANGE<\/u>\n <\/td>\n<\/tr>\n
Revenues<\/td>\n$<\/td>\n207.2 million<\/td>\n$<\/td>\n249.7 million<\/td>\n(17.0)%<\/td>\n<\/tr>\n
Operating Profit\/(Loss)<\/td>\n$<\/td>\n5.9 million<\/td>\n$<\/td>\n(3.1) million<\/td>\n294.5%<\/td>\n<\/tr>\n
Net Income\/(Loss)<\/td>\n$<\/td>\n0.4 million<\/td>\n$<\/td>\n(2.0) million<\/td>\n118.1%<\/td>\n<\/tr>\n
EPS(1)<\/sup><\/td>\n$<\/td>\n0.03<\/td>\n$<\/td>\n(0.14)<\/td>\n121.4%<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\n (1)<\/sup>The calculation of the earnings per share is based on 13,819,669 and 13,819,669 basic and diluted weighted average common shares issued and outstanding for the nine months ended September 30, 2020 and 2019, respectively.<\/td>\n<\/tr>\n<\/table>\n

\n First Nine Months 2020 Results<\/strong>\u00a0<\/p>\n

Revenues for the nine months ended September 30, 2020, were $207.2 million, a decrease of 17.0% from $249.7 million for the nine months ended September 30, 2019. \u00a0The decrease was primarily attributable to revenue decreases in the Company\u2019s Thailand, North Asia, and Rest of World (\u201cROW\u201d) regions. Net revenue in the Company\u2019s Thailand region decreased by 21.8%, primarily due to decreased sales of low margin products. Revenues in the Company’s North Asia region decreased by 16.0%, primarily due to the cessation of manufacturing operations of Shanghai Asia Pacific Electric Co., Ltd. (\u201cYayang\u201d) in October 2019. Revenues in the Company’s Rest of World (“ROW”) region decreased by 8.7%, primarily due to Singapore not reaching full resumption of work for reasons associated with COVID-19. The Company’s North Asia region includes China and Hong Kong; the Thailand region consists of operations and sales within Thailand; the ROW region includes Singapore, Australia and the other markets where APWC has operations or sales outside of the Thailand region and North Asia region.<\/p>\n

Operating profit for the nine months ended September 30, 2020 increased to $5.9 million from a loss of $(3.1) million for the nine months ended September 30, 2019. \u00a0Operating profit margin increased from a loss of (1.2)% in 2019 to a profit of 2.9% in 2020. \u00a0In the Thailand region, operating profit margin increased from a loss of (0.4)% to a profit of 7.6%, which was attributable primarily to the increase in sales of higher profit margin products.\u00a0In the North Asia region, operating profit margin increased from 0.9% in 2019 to 3.8% for the same period in 2020, primarily attributable to a decrease in lower margin products and severance expenses. The ROW region\u2019s operating loss margin decreased from (2.8)% in 2019 to (2.3)% in 2020, primarily attributable to abating competition for reasons associated with COVID-19.<\/p>\n

Selling, general and administrative expenses for the nine months ended September 30, 2020 were $18.2 million, compared to $19.0 million reported for the nine months ended September 30, 2019. \u00a0Net income attributable to APWC shareholders was $0.4 million for the first nine months of 2020, compared to a net loss of $(2.0) million for the same period in 2019. \u00a0The increase in net income was primarily due to an increase in gross profit. The weighted average number of shares issued and outstanding was 13.82 million for the nine months ended September 30, 2020 and 2019.<\/p>\n

\n Financial Condition<\/strong>\n <\/p>\n

APWC reported $44.6 million in cash and cash equivalents as of September 30, 2020, compared to cash and cash equivalents of $53.7 million as of December 31, 2019.<\/p>\n

Current assets totaled $237.2 million as of September 30, 2020, compared to $239.5 million as of December 31, 2019. \u00a0Working capital was $173.2 million as of September 30, 2020. \u00a0Short term bank loans were $12.9 million at September 30, 2020, an increase from $11.4 million at the end of 2019. \u00a0The Company had $3.4 million in long-term debt outstanding at September 30, 2020, compared to $0.0 in long-term debt as of December 31, 2019. Shareholder’s equity attributable to APWC was $150.3 million as of September 30, 2020, compared to $153.9 million as of December 31, 2019.<\/p>\n

APWC reported $6.3 million in cash generated from operations during the nine months ended September 30, 2020, compared to cash used in operations of $2.0 million in the corresponding period in 2019. The increase in cash generated from operations in 2020 was primarily attributable to improved product margin. The Company reported $19.3 million in cash outflows from investing activities during the nine months ended September 30, 2020, compared to $2.9 million in cash outflows in the same period of 2019. The increase in cash used for investing activities in the first nine months of 2020 was attributable primarily to the increase in purchases of property, plant and equipment. APWC reported $6.0. million in cash inflows from financing activities during the first nine months of 2020, compared to $6.5 million in cash outflows from financing activities in the same period of 2019. The cash inflows in 2020 was primarily attributable to an increase in borrowing.<\/p>\n

We encourage shareholders to visit the Company’s website for further information (www.apwcc.com<\/a>). Information on the Company’s website or any other website does not constitute a portion of this release.<\/p>\n

\n About Asia Pacific Wire & Cable Corporation<\/strong>\n <\/p>\n

Asia Pacific Wire & Cable Corporation is principally engaged in the manufacture and distribution of telecommunications (copper and fiber optic) and power cable and enameled wire products in the Asia Pacific region, primarily in Thailand, China, Singapore and Australia. The Company manufactures and distributes its own wire and cable products and also distributes wire and cable products manufactured by its principal shareholder, Pacific Electric Wire & Cable Company, a Taiwanese company. The Company also provides project engineering services in the supply, delivery and installation (“SDI”) of power cables to certain of its customers.<\/p>\n

\n Safe Harbor Statement<\/strong>\n <\/p>\n

This release contains certain “forward-looking statements” relating to the Company, its business, and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes”, “anticipates”, “expects”, \u201cestimates\u201d, \u201cintends\u201d, \u201cplans\u201d or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as believed, anticipated, expected, estimated, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.<\/p>\n\n\n
\n Contact:<\/strong>
\n
\n Investor Relations Contact:<\/em>
\n
\n Skyline\u00a0Corporate\u00a0Communications\u00a0Group,\u00a0LLC<\/em>
\n
\n Lisa Gray, Senior Account Manager<\/em>
\n
\n One\u00a0Rockefeller\u00a0Plaza,\u00a011th\u00a0Floor<\/em>
\n
\n New\u00a0York,\u00a0NY\u00a010020<\/em>
\n
\n Office:\u00a0(646)\u00a0893-5835<\/em>
\n
\n Email:\u00a0<\/em>
\n
\n lisa@skylineccg.com<\/em>
\n <\/a>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES<\/td>\n<\/tr>\n
CONSOLIDATED INCOME STATEMENTS<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
(Amounts in thousands of US Dollars, except share data)<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n For the nine months<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n ended Sept 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019 <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n<\/tr>\n
Revenue<\/td>\n$<\/td>\n207,204<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n249,659<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of sales<\/td>\n\u00a0<\/td>\n(183,197<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(234,585<\/td>\n)<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n24,007<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,074<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other operating income<\/td>\n\u00a0<\/td>\n450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n950<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expenses<\/td>\n\u00a0<\/td>\n(18,176<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(19,025<\/td>\n)<\/td>\n<\/tr>\n
Other operating expenses<\/td>\n\u00a0<\/td>\n(344<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(52<\/td>\n)<\/td>\n<\/tr>\n
Operating profit \/ (loss)<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,937<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,053<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Finance costs<\/td>\n\u00a0<\/td>\n(563<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(821<\/td>\n)<\/td>\n<\/tr>\n
Finance income<\/td>\n\u00a0<\/td>\n228<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n393<\/td>\n\u00a0<\/td>\n<\/tr>\n
Share of loss of associates<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2<\/td>\n)<\/td>\n<\/tr>\n
Exchange loss<\/td>\n\u00a0<\/td>\n(637<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,543<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n919<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n644<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expense<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)<\/td>\n<\/tr>\n
Profit before tax<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5,883<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,297<\/td>\n)<\/td>\n<\/tr>\n
Income tax expense<\/td>\n\u00a0<\/td>\n(2,647<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(964<\/td>\n)<\/td>\n<\/tr>\n
Profit\/(Loss) for the period<\/td>\n$<\/td>\n3,236<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,261<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Attributable to:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity holders of the parent<\/td>\n$<\/td>\n357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,974<\/td>\n)<\/td>\n<\/tr>\n
Non-controlling interests<\/td>\n$<\/td>\n2,879<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(287<\/td>\n)<\/td>\n<\/tr>\n
Basic and diluted profit \/ (loss) per share<\/td>\n$<\/td>\n0.03<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.14<\/td>\n)<\/td>\n<\/tr>\n
Basic and diluted weighted average common
shares outstanding<\/td>\n		\u00a0<\/td>\n13,819,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,819,669<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES<\/td>\n<\/tr>\n
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
(Amounts in thousands of US Dollars, except share data)<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n For the nine months<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n ended Sept 30,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019 <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n<\/tr>\n
Profit\/(Loss) for the period<\/td>\n$<\/td>\n3,236<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,261<\/td>\n)<\/td>\n<\/tr>\n
Other comprehensive income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other comprehensive income to be reclassified
to profit or loss in subsequent periods:<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nExchange differences on translation of
foreign operations, net of tax of nil<\/td>\n		\u00a0<\/td>\n(7,268<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,721<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,268<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,721<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other comprehensive income not to be
reclassified to profit or loss in subsequent
periods:<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nChanges in the fair value of equity
instruments measured at FVOCI<\/td>\n		\u00a0<\/td>\n(1,565<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n425<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nIncome tax effect<\/td>\n\u00a0<\/td>\n313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(85<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,252<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n340<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nRe-measuring losses on defined benefit plans<\/td>\n\u00a0<\/td>\n227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(135<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nIncome tax effect<\/td>\n\u00a0<\/td>\n(45<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(108<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other comprehensive (loss) \/ income for the
year , net of tax<\/td>\n		\u00a0<\/td>\n(8,338<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,953<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total comprehensive (loss) \/ income for the
period, net of tax<\/td>\n		\u00a0<\/td>\n(5,102<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,692<\/td>\n\u00a0<\/td>\n<\/tr>\n
Attributable to:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity holders of the parent<\/td>\n\u00a0<\/td>\n(3,559<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(791<\/td>\n)<\/td>\n<\/tr>\n
Non-controlling interests<\/td>\n\u00a0<\/td>\n(1,543<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,483<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(5,102<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n2,692<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES<\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS<\/td>\n<\/tr>\n
(In thousands of US Dollars, except share data)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n As of<\/strong>
\n
\n Sept 30, 2020<\/strong>
\n
\n (Unaudited)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n As of<\/strong>
\n
\n December 31, 2019<\/strong>
\n
\n (Audited)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n44,584<\/td>\n\u00a0<\/td>\n$<\/td>\n53,673<\/td>\n<\/tr>\n
Trade receivables<\/td>\n\u00a0<\/td>\n66,626<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74,077<\/td>\n<\/tr>\n
Other receivables<\/td>\n\u00a0<\/td>\n9,692<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,868<\/td>\n<\/tr>\n
Contract assets<\/td>\n\u00a0<\/td>\n1,795<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,686<\/td>\n<\/tr>\n
Due from related parties<\/td>\n\u00a0<\/td>\n10,471<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,566<\/td>\n<\/tr>\n
Inventories<\/td>\n\u00a0<\/td>\n98,214<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,187<\/td>\n<\/tr>\n
Prepayments<\/td>\n\u00a0<\/td>\n3,861<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,926<\/td>\n<\/tr>\n
Other current assets<\/td>\n\u00a0<\/td>\n1,958<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,521<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n237,201<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239,504<\/td>\n<\/tr>\n
Non-current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial assets at fair value through
other comprehensive income<\/td>\n		\u00a0<\/td>\n2,454<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,062<\/td>\n<\/tr>\n
Property, plant and equipment<\/td>\n\u00a0<\/td>\n47,370<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,747<\/td>\n<\/tr>\n
Right of use assets<\/td>\n\u00a0<\/td>\n3,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,735<\/td>\n<\/tr>\n
Prepaid land lease payments<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n<\/tr>\n
Investment properties<\/td>\n\u00a0<\/td>\n5,866<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n730<\/td>\n<\/tr>\n
Intangible assets<\/td>\n\u00a0<\/td>\n187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n128<\/td>\n<\/tr>\n
Investments in associates accounted from
using equity method<\/td>\n		\u00a0<\/td>\n881<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n935<\/td>\n<\/tr>\n
Deferred tax assets<\/td>\n\u00a0<\/td>\n4,207<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,939<\/td>\n<\/tr>\n
Other non-current assets<\/td>\n\u00a0<\/td>\n3,966<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,131<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n68,299<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59,407<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n305,500<\/td>\n\u00a0<\/td>\n$<\/td>\n298,911<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES<\/td>\n<\/tr>\n
CONSOLIDATED BALANCE SHEETS<\/td>\n<\/tr>\n
(In thousands of US Dollars, except share data)<\/td>\n<\/tr>\n
\u00a0\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n As of<\/strong>
\n
\n Sept 30, 2020<\/strong>
\n
\n (Unaudited)<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n As of<\/strong>
\n
\n December 31, 2019<\/strong>
\n
\n (Audited)<\/strong>\n <\/td>\n<\/tr>\n
Liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities<\/td>\n\u3000<\/td>\n\u00a0<\/td>\n\u3000<\/td>\n<\/tr>\n
Interest-bearing loans and borrowings<\/td>\n$<\/td>\n12,872\u00a0<\/td>\n\u00a0<\/td>\n11,356<\/td>\n\u00a0<\/td>\n<\/tr>\n
Trade and other payables<\/td>\n\u00a0<\/td>\n18,737\u00a0<\/td>\n\u00a0<\/td>\n16,879<\/td>\n\u00a0<\/td>\n<\/tr>\n
Due to related parties<\/td>\n\u00a0<\/td>\n10,731\u00a0<\/td>\n\u00a0<\/td>\n3,284<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial liabilities at fair value through profit or loss<\/td>\n\u00a0<\/td>\n–\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accruals<\/td>\n\u00a0<\/td>\n12,458\u00a0<\/td>\n\u00a0<\/td>\n14,437<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current tax liabilities<\/td>\n\u00a0<\/td>\n3,330\u00a0<\/td>\n\u00a0<\/td>\n2,872<\/td>\n\u00a0<\/td>\n<\/tr>\n
Employee benefit liabilities<\/td>\n\u00a0<\/td>\n2,101\u00a0<\/td>\n\u00a0<\/td>\n1,888<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial lease liabilities<\/td>\n\u00a0<\/td>\n564\u00a0<\/td>\n\u00a0<\/td>\n574<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other current liabilities<\/td>\n\u00a0<\/td>\n3,196\u00a0<\/td>\n\u00a0<\/td>\n2,356<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n63,989\u00a0<\/td>\n\u00a0<\/td>\n53,649<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest-bearing loans and borrowings<\/td>\n\u00a0<\/td>\n3,400\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Employee benefit liabilities<\/td>\n\u00a0<\/td>\n9,943\u00a0<\/td>\n\u00a0<\/td>\n10,434<\/td>\n\u00a0<\/td>\n<\/tr>\n
Financial lease liabilities<\/td>\n\u00a0<\/td>\n1,825\u00a0<\/td>\n\u00a0<\/td>\n2,254<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred tax liabilities<\/td>\n\u00a0<\/td>\n4,217\u00a0<\/td>\n\u00a0<\/td>\n4,139<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n19,385\u00a0<\/td>\n\u00a0<\/td>\n16,827<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n83,374\u00a0<\/td>\n\u00a0<\/td>\n70,476<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Issued capital<\/td>\n\u00a0<\/td>\n138\u00a0<\/td>\n\u00a0<\/td>\n138<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n110,416\u00a0<\/td>\n\u00a0<\/td>\n110,416<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury shares<\/td>\n\u00a0<\/td>\n(38)<\/td>\n\u00a0<\/td>\n(38<\/td>\n)<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n53,741\u00a0<\/td>\n\u00a0<\/td>\n53,384<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other components of equity<\/td>\n\u00a0<\/td>\n(13,962)<\/td>\n\u00a0<\/td>\n(10,046<\/td>\n)<\/td>\n<\/tr>\n
Equity attributable to equity holders of the parent<\/td>\n\u00a0<\/td>\n150,295\u00a0<\/td>\n\u00a0<\/td>\n153,854<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-controlling interests<\/td>\n\u00a0<\/td>\n71,831\u00a0<\/td>\n\u00a0<\/td>\n74,581<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total equity<\/td>\n$<\/td>\n222,126\u00a0<\/td>\n\u00a0<\/td>\n228,435<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and equity<\/td>\n$<\/td>\n305,500\u00a0<\/td>\n\u00a0<\/td>\n298,911<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ASIA PACIFIC WIRE & CABLE CORPORATION LIMITED AND SUBSIDIARIES<\/td>\n<\/tr>\n
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/td>\n<\/tr>\n
(Unaudited)<\/td>\n<\/tr>\n
(In thousands of U.S. Dollars)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u3000<\/td>\n\u00a0<\/td>\n\n For the years<\/strong>\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u3000<\/td>\n\u00a0<\/td>\n\n ended Sept 30,<\/strong>\u00a0\u00a0\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2020 <\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a02019 <\/strong><\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (Unaudited)<\/strong>
\n
\n
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
Net cash provided by \/ (used in) operating activities\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/td>\n$<\/td>\n6,258<\/td>\n\u00a0<\/td>\n$<\/td>\n(2,025<\/td>\n)<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>\n\u00a0<\/td>\n(19,335<\/td>\n)<\/td>\n\u00a0<\/td>\n(2,945<\/td>\n)<\/td>\n<\/tr>\n
Net cash (used in) financing activities<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0 5,973<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,476<\/td>\n)<\/td>\n<\/tr>\n
Effect of exchange rate on cash and cash equivalents<\/td>\n\u00a0<\/td>\n(1,985<\/td>\n)<\/td>\n\u00a0<\/td>\n1,414<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net decrease in cash and cash equivalents<\/td>\n\u00a0<\/td>\n(9,089<\/td>\n)<\/td>\n\u00a0<\/td>\n(10,032<\/td>\n)<\/td>\n<\/tr>\n
Cash and cash equivalents at beginning of period<\/td>\n\u00a0<\/td>\n53,673<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,778<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents at end of period\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/td>\n$<\/td>\n44,584<\/td>\n\u00a0<\/td>\n$<\/td>\n50,746<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TAIPEI, Taiwan, Jan. 04, 2021 (GLOBE NEWSWIRE) — Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) (“APWC” or the “Company”), a leading manufacturer of wire and cable products for the telecommunications and electric-power industries in the Asia-Pacific region, today announced the Company’s financial results for the nine months ended September 30, 2020. Unless otherwise indicated, all data are reported in U.S. Dollars at the exchange rate prevailing on the date of the event or result reported. First Nine Months 2020 Financial Results\u00a0(Ended September 30, 2020), and 2019 comparative results \u00a0 \u00a0 First 9 Months 2020 First 9 Months 2019 CHANGE Revenues $ 207.2 million $ 249.7 million (17.0)% Operating Profit\/(Loss) $ 5.9 million $ (3.1) million 294.5% Net Income\/(Loss) … <\/p>\n

Continue reading “Asia Pacific Wire & Cable Corporation Ltd. Reports Third Quarter 2020 Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-407404","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAsia Pacific Wire & Cable Corporation Ltd. Reports Third Quarter 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/asia-pacific-wire-cable-corporation-ltd-reports-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia Pacific Wire & Cable Corporation Ltd. 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