Acer reported a high net profit for the first quarter on Thursday, as a result of effective expense control and inventory management. The company's consolidated revenue dropped 11.4 percent year-on-year to NT$67.95 billion (US$2.16 billion) in the three months ending in March. But gross profits increased 4.5 percent to NT$6.66 billion and operating income surged 139 percent to NT$304 million.

"The results reflect Acer's effective product mix strategy according to market needs, operating expense control and inventory management," the company said in a statement.