OPERATING RESULTS
15 May 2002
TP-MT/068/45 (FC070/45)
May 14, 2002.
Subject : Filing of Verified Financial Statements for the 1st Quarter of 2002
and 2001 and Report on Comparative Operating Performance
Between the 1st Quarter
Attention: Director and Manager, SET
Enclosures: Verified Financial Statements and the Report of C.P.A. for the 1st
Quarter of 2001 - 2002, 2 copies (1 Thai and 1 English versions)
Pursuant to SET regulations concerning Criteria, Conditions and Methods of
Preparation, Filing, and Reporting on Financial Status and Business
Performance of Listed Companies dated May 19, 1993 required for the
company's clarification on causes contributing to changes over 20 percent of
business performances from the previous operating period accordingly.
Thantawan Industry Public Co., Ltd (THIP) therefore clarifies the major causes
for significant changes of business performances in the 1st Quarter of 2002 as
compared with the same Quarter in 2001 as followings:
1. The total revenues of THIP had decreased from Baht 194.32 million in 1st
Quarter of 2001 to Baht 181.29 million in 1st Quarter of 2002, computed as
decreasing rate of 6.71% due to following causes :
1.1 Export Income had decreased from Baht 176.17 million in the 1st
Quarter of 2001 to Baht 167.29 million of the same period in 2002, or
at 5.04% because of high competition.
1.2 Sales of scrap had decreased from Baht 3.39 million in the 1st Quarter of
2001 to Baht 0.59 million in the 1st Quarter of 2002, decreasing by Baht
2.80 million due to the recycle policy to save raw material cost.
However, it couldn't help much since the recycled scrap was used in
limit quantity.
2. Cost of Good Sold had increased from 70.13% from the 1st Quarter in 2001
to 73.47% of the same period in 2002, or at 3.34% due to following causes :
2.1 Direct Labor cost in the 1st Quarter of 2002 was higher than the same
period in 2001 amounting Baht 2.22 million due to higher overtime
expense and Outside Labor expense amounting Baht 1.03 million and
Baht 1.05 million respectively.
2.2 Factory Expense in the 1st Quarter of 2002 was higher than the same
period in 2001 amounting Baht 3.83 million due to higher salary and
part time labor cost amounting Baht 1.02 million and packaging cost
was Baht 1.51 million.
Please be informed accordingly.
Very truly yours,
(Mr.Phietoon Trivijitkasem)(Mr.Huang Kuan-Chiun)
Director Director
