Advantech reported FY17 Q1 result with net revenues of NT$10 billion ($334.2 million) and net profit of NT$1.2 billion ($40.1 million), resulting in a healthy net margin of 12%. The revenue decreased by a marginal 0.7% compared to last year but the net profit was down by a significant 12%.
The company attributed the dip in financial performance to losses incurred on foreign exchange transactions and indicated that FY17 Q2 will see better results on account of the rise of IoT, cloud service and Big Data applications, which are bringing significant evolution to traditional industries and thus, it said, creating tremendous opportunities for companies such as Advantech.
