TPV Technology warns of Q1 losses that may hit as much as $76 million

TPV Technology, which provides display products, such as personal computer monitors and liquid-crystal display television, has sounded a profit warning.

In a April 15 regulatory filing, the company said it expects to record a net loss in the range of US$40 million to US$60 million (S$76 million) for the three months ended March 31, compared to a loss of US$4.8 million previously, based on preliminary data.

This is due to the continued weakness in TV demand in key markets, which resulted in a decrease in both sales volume and gross profit; and one-time charges relating to the transformation and restructuring of the business of TP Vision.

TPV is still in the process of finalising the financial results.

Details of the group's performance will be made known soon.