Recently, Hsu Lih-chung, spokesman for Giant Manufacturing Co., reported that the company's U.S. subsidiary had recorded profits in the first quarter of this year. The success is welcome news, following 12 consecutive years of losses. According to Hsu, the U.S. subsidiary reported NT$2 million of after-tax profits in the first three months. Using its own brand name, the subsidiary sold 43% more bicycles in the first quarter of 2000 than during the same period last year. At a total of NT$357 million in revenue in the first three months, this was 22% more income than in 1999.

The U.S. bicycle market has been very competitive in recent years. Underlining this fact was last year's first quarter results, wherein Giant's U.S. subsidiary chalked up losses amounting to NT$18 million. Thus, the company's expectations for this year were surpassed once the final figures had been tallied. Giant Manufacturing Co. is Taiwan's leading bicycle manufacturer.

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