LIQUID crystal display (LCD) manufacturer Varitronix International has reported a record profit of $156 million for the year ended December 31, up 50 per cent on 1992. Earnings per share were 60 cents, compared with 42 cents. A final dividend of 27 cents was recommended. The company saw turnover increase 25 per cent to $422 million from $338 million. Chairman Chang Chu-cheng attributed the results to continued expansion of production capacity and product mix, further improvement in production efficiency and a commitment to new technology development. Mr Chang said a new version of the hand-held terminal (CIT) with a two dimensional touch-sensitive screen was introduced during the year to high acclaim. Scheduled for production this year, the CIT, which has wider application potential, is expected to further the group's participation in the fast-growing telecommunications industry. The same proprietary touch screen was integrated with conventional LCD modules to provide the user with an extremely simple, self-integrated input-output device. Mr Chang said a range of touch plate LCD modules was launched towards the end of 1993, further expanding the product variety offered. Mr Chang said production at the new plant in Heyuan, Guangdong, which was completed at the end of 1993, began after Chinese New Year. ''As long-term strategic planning, the group recently purchased a piece of industrial land at Heyuan for future expansion,'' he said. Regarding the Penang plant, Mr Chang said there was no contribution to profit during 1993 due to the initial setup cost and long technical training period required for sophisticated production. ''With the planned increase in production and technical capacities for both the Heyuan and Penang plants, the group is confident [of meeting] the increase in market demand for the future,'' he said.
