Asia Pacific Wire (APWC) recently released its first-quarter financial results for the period ending March 31, 2026. The data shows that the company's Q1 revenue reached $130.8 million, marking a 30% increase year-over-year, though it slightly decreased by 2% compared to the previous quarter's $133.8 million. Earnings per share were $0.05, turning around from a loss per share of $0.07 in the same period last year, representing a year-over-year increase of 171%.
The company stated that the revenue growth was primarily driven by broad-based growth momentum in international markets, favorable commodity trends, and stable project execution, which contributed approximately $30.2 million in incremental revenue.
Thailand Market Leads Growth with Significant Gross Margin Improvement Regionally, the Thailand market performed most notably, with revenue reaching $51.2 million, a 41% increase year-over-year and a 12% increase quarter-over-quarter. This growth was mainly due to strong execution of public sector orders and rising copper prices. The North Asia market generated revenue of $23.9 million, up 26% year-over-year; other regions (including Australia) reported revenue of $55.7 million, a 23% increase year-over-year.
In terms of profitability, the company's gross margin for the quarter was 8.2%, significantly improving by 4.6 percentage points from 3.6% in the same period last year. This improvement was attributed to a more favorable product mix and the positive impact of rising copper prices. Operating profit reached $3.3 million, successfully reversing a loss of $2.7 million in the same period last year.
Financial Position Further Strengthened During the reporting period, the company successfully completed a rights issue, raising net proceeds of $34.1 million. This increased cash and cash equivalents to $73.2 million, up by $40.1 million from the previous quarter. Cash flow from operating activities also showed a net inflow of $1.6 million, a significant improvement from a net outflow of $1.9 million in the prior quarter.
The company's CEO, Jin Yunfeng, stated that the rise in international copper prices and the execution of strategic projects jointly drove the performance improvement. The company will continue to leverage the stable business environment and raw material market trends to seek further growth opportunities.
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