TAIPEI -- Foxconn Electronics reported fourth-quarter net profits rose 83% sequentially to NT$35.1 billion ($1.19 billion) on higher demand for consumer electronics.

Revenues for the period ended Dec. 31 grew 24.4% sequentially and 15.2% year-over-year to NT$1.1 trillion ($37.1 billion).

For 2011, Foxconn's overall revenue rose 3.45 trillion ($116 billion). Net profits reached NT$81.6 billion

Gross margins were 8.9% for the quarter, up 184 basis points, and 7.7% for the year, down 43 basis points.

Foxconn is the world's largest EMS company and eighth largest printed circuit board fabricator.

Ed.: 1 TWD = 0.0338057 USD

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