Fairson Holdings Limited Provides Earnings Guidance for the First Quarter Ended June 30, 2012
Fairson Holdings Limited provided earnings guidance for the first quarter ended June 30, 2012. For the quarter, the company expects to record a net loss as compared to a net profit for the three months ended 30 June 2011. The net loss was mainly attributable to: the decrease in gross profit margin as a result of increasing market competition under the global economic downturn; and the operating loss from the manufacturing and sale of copper wires which are yet to achieve economies of scale.