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REPRESENTED BY PAN PACIFIC I.R. LTD. CONTACT: Lorne Waldman
1790 - 99 WEST HASTINGS STREET President
VANCOUVER, BC, CANADA V6C 2W2 E-MAIL:
TEL: (604) 669-7800 FAX: (604) 669-7816 shareholder@namtai.com
TOLL FREE TEL/FAX: 1-800-661-8831
NAM TAI ELECTRONICS, INC.
NEW MONTHLY SALES RECORD OF $54.6 MILLION IN JUNE 2004
VANCOUVER, CANADA - July 7, 2004 -- Nam Tai Electronics, Inc. ("Nam Tai" or the
"Company") (NYSE Symbol: NTE; CBOE Symbol: QNA; Frankfurt Stock Exchange Symbol:
884852) announced that it has once again achieved a new all time monthly sales
record of $54.6 million in June, 2004, an 7.48% increase over the previous
single month sales record of $50.8 million achieved in the last month May 2004.
Mr. Murakami, Nam Tai's Chairman, commented, "I am pleased to see the continuous
growth of our sales results. During the month, we achieved outstanding sales
performance for several products same as last month, including CMOS image sensor
modules built in to cellular phones, Bluetooth(TM) cellular phone headsets,
cellular phones in semi-knocked down ("SKD") form, flexible printed circuit
sub-assemblies and USB microphones and converter box for a PlayStation(R)2
singing game."
"With this substantial growth in sales, we are making sure that
we can achieve final second quarter results that will be exceeding the upside of
our guidance range of between $125 million and $140 million provided in our
press release dated April 30, 2004 announcing the first quarter financial
results." Mr. Murakami concluded.
Second Quarter Dividend
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Nam Tai will pay its second quarter dividend of $0.12 per share on or before
July 21, 2004 to shareholders of record at the close of business on June 30,
2004.
Second Quarter Results and Analysts Conference Call
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The Company will release its unaudited second quarter results for the period
ended June 30, 2004 after the market closes on Friday, 30 July, 2004. An analyst
conference call will be held on Monday, August 2, 2004 at 10:00 a.m. Eastern
Time for analysts to discuss the second quarter results with management.
Shareholders, media, and interested investors are invited to listen to the live
conference over the internet by going to www.namtai.com and clicking on the
conference call link or over the phone by dialing (651) 291-0900 just prior to
its start time.
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About Nam Tai Electronics, Inc.
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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, flexible printed circuit sub-assemblies and image
sensors. These components are used in numerous electronic products, including
cellular phones, laptop computers, digital cameras, copiers, fax machines,
electronic toys, handheld video game devices 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.
Safe Harbor
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Certain statements in this press release are "forward-looking statements" within
the meaning of U.S. federal securities laws. Nam Tai intends that these
statements be covered by the safe harbors created under these laws. These
forward-looking statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from future results
expressed or implied by the forward-looking statements. Many of these factors
are beyond Nam Tai's ability to control or predict. Given these uncertainties,
readers are cautioned not to place undue reliance on the forward-looking
statements, which only speak as of the date of this press release. Nam Tai does
not undertake any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated events, except
as may be required under applicable securities laws.
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