TAIPEI Hon Hai Precision Industry, the parent company of Foxconn Electronics, reported 2007 revenues rose 42.5% year-over-year, hitting a record $38 billion.

The company expects net profits of $2.6 billion, according to reports.

The company reported December revenues rose 58.2% year-over-year to $4.6 billion. It was the sixth straight monthly high for Foxconn, the world's largest EMS/ODM company.

Sales were boosted by demand for PCs and telecom products such as mobile phones.

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