April 8, 2009 / 9:41 AM / 10 years ago

Taiwan's Quanta misses Q1 shipment target

* Quanta Computer misses Q1 target on dampened spending

* Quanta’s revenue has been falling by double digits

* Shares closed 2.2 percent down, in line with big board

TAIPEI, April 8 (Reuters) - Taiwan’s Quanta Computer (2382.TW), the world’s largest contract laptop PC maker, missed its first quarter shipment target by 2 percent, as damped consumer spending cut demand among its clients.

A key supplier to brands such as Hewlett-Packard (HPQ.N), Dell DELL.O and Acer (2353.TW), the company had previously said its shipments in the first three months of this year would be about 30 percent lower than the fourth quarter of 2008.

Quanta said in a statement that it shipped 2.7 million laptops in March, and Reuters calculations of company numbers showed Quanta shipped 6.9 million laptop PCs in the January-March quarter.

This is less than the 7.07 million units the company had previously said it was expecting to ship.

Quanta did not give any reason for the shortfall in the statement, which was released after the Taiwan stock market had closed on Wednesday. Its shares were down 2.2 percent, roughly in line with the broader market's .TWII 2.39 percent decline.

“We’re expecting Quanta’s revenue to grow by about 15 percent on a quarterly basis,” said KGI Securities analyst Angela Hsiang.

“That shouldn’t be too difficult, since they’re coming off a fairly low base.”

Quanta’s revenue has seen double-digit falls on an annual basis since the beginning of this year, compared with smaller rival Compal Electronics (2324.TW), whose revenue declined by an average of 3 percent in the first two months of the year.

Quanta has not given an outlook for the April-June quarter, and company officials were not immediately available for comment.

Compal will release its revenue figures for March on Thursday. Its shares closed 1.96 percent lower on Wednesday, outperforming the main board.

Reporting by Kelvin Soh; Editing by Chris Lewis

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