E Ink Holdings Inc (元太科技) yesterday said it lost NT$603 million (US$19.96 million) last quarter due to seasonally weak demand.
The firm, which supplies e-paper displays for Amazon.com Inc’s Kindle e-reader series, was in the red in the first three quarters last year, but made net income of NT$1.01 billion in the fourth quarter.
Last quarter’s losses widened from losses of NT$490 million in the first quarter of last year.
The world’s biggest e-paper display supplier reported NT$2.96 billion in revenue last quarter, almost half that of the previous quarter.
“The numbers were not great,” Yuanta Investment Consulting (元大投顧) analyst George Chang (張家麒) said in a research note.
He had forecast that E Ink would lose NT$516 million last quarter.
E Ink posted an operating loss of NT$1.21 billion for last quarter, which also exceeded Chang’s estimate of NT$760 million.
As the company is likely to take some extra reserves in its ongoing restructuring, E Ink may break even or significantly shrink its operating loss in the near future, Chang said.
Separately, touchpanel maker Young Fast Optoelectronics Co (洋華光電), which counts Samsung Electronics Co as its top client, posted an improved quarterly loss of NT$212 million for last quarter from a quarter ago.
Young Fast lost NT$1.31 billion in the fourth quarter last year.
It said in March that prices would stabilize this quarter after a 20 percent annual decline last year.
The company made a net profit of NT$177 million in the first three months of last year.
On Wednesday, rival Wintek Corp (勝華) reported narrowed quarterly losses of NT$1.5 billion, compared with losses of NT$3.83 billion in the fourth quarter.
That marked the eighth straight quarterly losses for Wintek.
Losses widened from the NT$840 million loss posted in the first quarter of last year. Wintek has said it expects operations to improve significantly in the second half of this year from the seasonally slow first half.
DATA SHOW DOWNTURN: Manufacturing in Taiwan contracted as production and demand slumped, while growth in chip exports last month eased in South Korea World chip sales growth has decelerated for six straight months in another sign that the global economy is straining under the weight of rising interest rates and mounting geopolitical risks. Semiconductor sales rose 13.3 percent in June from a year earlier, down from 18 percent in May, data from the global peak industry body showed. The slowdown is the longest since the US-China trade dispute in 2018. The three-month moving average in chip sales has correlated with the global economy’s performance in the past few decades. The latest weakness comes as concern about a worldwide recession has prompted chipmakers such as Samsung
Malaysia is scrambling to protect its assets as the descendants of the last sultan of the remote Philippine region of Sulu look to enforce a US$15 billion arbitration award in a dispute over a colonial-era land deal. In 1878, two European colonists signed a deal with the sultan for the use of his territory in present-day Malaysia — an agreement that independent Malaysia honored until 2013, paying the monarch’s descendants about US$1,000 per year. Now, 144 years later after the original deal, Malaysia is on the hook for the second-largest arbitration award on record for stopping the payments after a bloody incursion
RECOVERED CONFIDENCE: As market rationality returns, Taiwanese stocks that have lagged behind their US peers might soon catch up, Allianz researchers said Local shares last week defied heavy pressure from China’s military drills in waters around Taiwan, and investors this week are expected to pay attention to earnings results from several tech heavyweights as well as the latest economic data on exports and GDP. The TAIEX closed at 15,036.04 points on Friday, posting a weekly increase of 0.24 percent from 15,000.07 on July 29, Taiwan Stock Exchange data showed. Over the same period, the FTSE TWSE Taiwan 50 Index, which comprises Taiwan’s top 50 stocks in terms of market capitalization, closed up 0.93 percent at 11,750.15 points, while the Formosa Stock Index, which measures
Pharmaceutical start-up AcadeMab Biomedical Inc (研生生醫) said it has been developing a COVID-19 antibody drug, an endeavor not being undertaken by many other Taiwanese pharmaceutical firms. The company was spun off from Academia Sinica’s Institute of Cellular and Organismic Biology in 2020 and has only 16 employees. It has set its sights on the innovative field of the monoclonal antibody treatment of tumors. The start-up began developing antibody drugs in January, after seeing that COVID-19 vaccines could not effectively protect people from new variants of SARS-CoV-2, AcadeMab Biomedical chief strategy officer Pearl Fong (俸清珠) said in an interview with the Taipei Times