Hi-P: Net profit below Bloomberg consensus though revenue was in line. 4Q Rev at $422.1m +22.8% yoy +36.8% qoq, net profit at $9.4m -73.7% yoy+45.8% qoq. 4Q Gross margins remained depressed at 8.1% with prev quarter at 8.7%. This was attributed to pricing pressure, cost increases in both labor and material costs, higher depreciation to accounting estimates. Higher rev was due to ramp up of high lvl assembly projects for 4Q
Div of 2.4c declared. With FY11 EPS at 5.28c, co is currently trading at 17.6x P/E
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