VANCOUVER, CANADA -- May 12, 2003 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE; CBOE Symbol: QNA) today announced it achieved a new all time monthly sales record of $43.0 million in April 2003, a 107% increase over sales of $20.8 million in April 2002. Strong sales of cellular phone components assembling, an expanded customer base, and beginning to utilize increased production capacity in its new factory building all contributed significantly to the growth in monthly sales.
“Though the sluggish market overall has been overshadowed by a number of economic uncertainties, we are proud that Nam Tai was still able to achieve such excellent sales results,” commented Mr. Tadao Murakami, Nam Tai’s Chairman.
About Nam Tai
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, and sensor modules. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones. Further information is available at www.namtai.com.