Wed, Apr 08, 2009 - Page 12 News List

MediaTek reports surge in March sales

By Kevin Chen  /  STAFF REPORTER

MediaTek Inc (聯發科), the nation’s largest handset chip supplier, said yesterday that consolidated sales last month reached NT$9.6 billion (US$286 million), the second highest monthly sales figure since September 2007, when it posted NT$9.9 billion.

Last month’s sales rose 23.72 percent from the same period last year and 20.96 percent from the previous month, company data showed.

Revenues in the first three months of the year grew 14.9 percent to NT$23.73 billion from NT$20.65 billion (US$602 million) in the fourth quarter of last year, aided by a wave of rush orders from China, the company said.

That was better than the company’s forecast issued earlier last month, when it said first-quarter revenues could grow by between 8 percent and 13 percent.

The company also said in a stock exchange filing that its board of directors had approved a proposal to raise new capital to purchase new equipment for research and development as well as boost capacity and reinvestment.

The chip designer said it planned to raise NT$21.46 million by issuing 2.146 million common shares.

The board also approved a plan to distribute NT$14 in cash dividends and 0.2 percent in stock dividends based on last year’s performance. This is subject to shareholder approval at the firm’s annual general meeting on June 10.

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