Acer posts $17.4 mln net profit in Q1, beats forecasts

TAIPEI Tue May 7, 2013 5:31am EDT

TAIPEI May 7 (Reuters) - Taiwan's Acer Inc, the world's No.4 PC vendor, returned to the black in the first quarter, reporting a better-than-expected net profit of T$515 million ($17.44 million) on Tuesday.

Thirteen analysts polled by Thomson Reuters I/B/E/S had forecast a median profit of T$195.6 million for the quarter.

The figure also compares with a net loss of T$3.4 billion in the previous quarter, dragged by a T$3.5 billion right-off of trademark rights, and a net profit of T$331 million in the same period a year ago.

Acer attributed the net profit in the quarter to "a number of non-operating incomes, including foreign exchange and stock disposal gains". The company will hold an investor conference on Wednesday at 0600 GMT.