Ultima Electronics, a Taiwan-based manufacturer of optical disc drives (ODDs), on announced on December 27th a downward adjustment of its 2004 financial forecast for a second time, anticipating a net loss per share of NT$3.33.
The financial projection for 20004 was published on April 30 and lowered for the first time on September 9.
According to Ho Ultima suffered large losses from derivatives and foreign currency exchange, causing banks to curtail credit lines and loans given to the company, according to company spokesman Hogo Ho. This is the main reason for the second downward adjustment.
Ultima also announced that it has filed an application with the jurisdictional court to restructure its business operations. During the restructuring period, Ultima will strengthen development of its profitable consumer DVD products.
Ho went on to say Ultima has stopped the profitless production of CD-ROM, DVD-ROM drives and CD-RW burners and will focus on Combo drives and DVD burners on an OEM basis.
