Thu, Apr 10, 2014 - Page 14 News List

UMC reports NT$31bn in revenue for first quarter

By Lisa Wang  /  Staff reporter

United Microelectronics Corp (UMC, 聯電), the world’s third-largest contract chipmaker, yesterday posted 3 percent sequential growth in revenue for last quarter after revenue last month hit an eight-month high.

In the first three months, revenue totaled NT$31.69 billion (US$1.06 billion), up 3.12 percent from NT$30.73 billion the previous quarter. Last month alone, revenue leaped 9.19 percent to NT$11.29 billion from February.

UMC is not the only semiconductor company that saw quarterly revenue beat guidance during a slack quarter hit by excessive inventory and weak demand for high-end chips used in smartphones.

Vanguard International Semiconductor Corp (世界先進), a supplier of driver ICs used in flat panels, yesterday said revenue rose 2.04 percent sequentially to NT$5.51 billion last quarter, after it posted its best revenue in seven months last month at NT$1.87 billion.

The quarterly results are slightly above the company’s guidance for a 3 percent drop to 1 percent rise quarter-on-quarter, but in line with Credit Suisse’s 2.3 percent quarter-on-quarter growth.

“We believe order restocking for large TV panels is driving the growth,” Credit Suisse analyst Randy Abrams said in a note.

Vanguard might show a mid-single digit percent sequential growth in revenue this quarter due to limited capacity, Abrams said.

Last month, Vanguard’s board approved a plan to buy a plant from memorychip maker Nanya Technology Corp (南亞科技) for NT$2.18 billion to expand its capacity.

Meanwhile, touch-panel controller chipmaker Elan Microelectronics Corp (義隆電) said revenue for last quarter fell 8.56 percent to NT$1.71 billion from the previous quarter, matching its guidance of between NT$1.6 billion and NT$1.7 billion.

Elan said the company shipped more than 2 million units of touch-panel controller chips used in smartphones last month for global handset brands and Chinese mobile phone makers, driving its sales for last month to surge 27.5 percent to NT$640 million from February.

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