SHENZHEN -- Nam Tai today reported fourth-quarter net profit of $5.3 million, up nearly 13 times the net profit of a year ago.

Revenue for the period ended Dec. 31 climbed to $166.5 million, up 78% from a year ago.

Gross profit grew 40% to $14.2 million, yet gross margin fell 230 basis points to 8.5%, mainly attributable to operating losses from the company's Wuxi facility.

For the year ended Dec. 31, the electronics manufacturing services company recorded sales revenue of $534.4 million, up 31% over 2009. Gross profit was $51.3 million, a rise of 27%, and gross margin was down 30 basis points to 9.6%. The net profit was $15 million, up from $1.7 million in 2009.

For 2011, the EMS company intends to focus its business on key components assembling for telecommunication products and businesses that are stable in growth and margins.

Nam Tai is ranked 22nd in the latest CIRCUITS ASSEMBLY Top 50, which will be published March 1.

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