Fri, Apr 26, 2013 - Page 14 News List

Aspeed Technology posts record profit on higher demand

By Lisa Wang  /  Staff reporter

Aspeed Technology Inc (信驊), which designs chips for servers, yesterday posted a record net profit for the first quarter on the back of increased demand.

Its net profit more than doubled to NT$40.15 million (US$1.35 million) in the first three months of this year, compared with NT$19.93 million in the same period last year, according to a financial statement submitted to the Taiwan Stock Exchange.

That was 2.73 percent sequential growth from a net profit of NT$39.08 million in the fourth quarter of last year.

Gross margin dropped to 53.41 percent last quarter from 66 percent the previous year, but was flat from 53.42 percent in the fourth quarter.

Revenue soared 58 percent to NT$139 million in the first quarter from NT$87.77 million in the same period last year, after the company posted historical high revenue of NT$55 million last month.

Aspeed is scheduled to debut its shares on the nation’s GRETAI Securities Market on Tuesday, with the price of its initial public offering set at NT$110 per share.

The company’s net profit last year surged 50.62 percent to NT$135.67 million, or NT$6.5 per share, from NT$90.07 million, or NT$4.77 per share, in 2011, as Google Inc, Facebook Inc and Amazon.com Inc increased their server orders with local manufacturers, the company’s underwriter Yuanta Securities Co (元大證券) said.

Revenue rose 34.76 percent to NT$265.41 million last year from NT$199.91 million the previous year.

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