VANCOUVER, CANADA -- November 12, 2002 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NASDAQ/NM Symbol: NTAI and NTAIW) today announced it achieved a new all time monthly sales record of $26.35 million in October 2002, a 31.3% increase over sales of $20.07 million for October 2001. Strong sales of mobile phone LCD modules and digital cameras for mobile phones contributed to the overall growth. In its third quarter 2002 results released on October 28, 2002 Nam Tai announced that its backlog, defined as on-hand firm orders from customers, was up 42% at the end of the third quarter 2002 compared to the end of the second quarter of 2002.
“We are pleased with October’s sales which demonstrates the Company’s ability to grow even in today’s challenging market conditions,” commented Mr. Tadao Murakami, Nam Tai’s Chairman. “October 2001 sales of $20.07 include $2.78 million in sales from BPC, a discontinued business. Excluding this amount, sales in October 2002 actually increased 52.4%.”
Nam Tai Electronics, Inc. is an electronics design and manufacturing service provider to some of the world’s leading original equipment manufacturers. Nam Tai manufactures telecommunication products, palm-sized PCs, personal digital assistants, linguistic products, calculators and various components including LCD modules and radio frequency modules, both for mobile phones, transformers and LCD panels. The Company utilizes advanced production technologies such as chip on board (COB), chip on glass (COG), chip on film (COF), surface mount technology (SMT), ball grid array (BGA), tape automated bonding (TAB), and outer lead bonding (OLB) technologies. Further information is available on Nam Tai’s web site at www.namtai.com.