Quanta reported Q4 2013 results that were mixed relative to expectations as revenues were better, but higher costs drove earnings lower. The company posted a strong sequential revenue quarter as notebook PC shipments bounced back nicely in the quarter, server shipments were up nicely and the non-PC business continued to gain as a percentage of revenue. The main issue was really on the margin front as gross margins were below 4.0% and marked a multi-year low level. At the same time the company ramped R&D expenses to support anticipated new program ramps in 2014. Were it not for lower tax expense and higher non-operating income, net profits would have fallen even further below expectations.