Vanguard International Semiconductor Corp (VIS, 世界先進), which makes controller chips used in LCD panels, yesterday reported a 35 percent annual decline in net profit for last quarter as clients were still digesting inventory.
Net income sank to NT$979 million (US$32.39 million) during the quarter ending June 30, compared with NT$1.52 billion in the same period last year, hitting the lowest level in six quarters.
Earnings per share dropped to NT$0.6 from NT$0.92 a year earlier, company data showed.
That also represented a decline of 15 percent from NT$1.15 billion in the first quarter.
After a poor second quarter, Vanguard said it has seen signs of a recovery as customers have started restocking for the upcoming peak season.
Nonetheless, the seasonal demand is not expected to be as robust as in the past, Vanguard said.
Revenue is expected to grow between 4 percent and 11 percent to between NT$6.1 billion and NT$6.5 billion this quarter from NT$5.87 billion last quarter, Vanguard said.
Gross margin is forecast to rebound to between 30 percent and 32 percent this quarter from 30 percent last quarter, ending six quarters of declines, the company said.
Vanguard attributed its gross margin improvement to increasing demand for power management chips and better equipment utilization.
Power management chips accounted for the biggest portion, about 48 percent, of the company’s total revenue last quarter, company data showed.
This quarter’s demand for controller chips for ultra-high-resolution 4K2K LCD TVs is likely to be flat, or increase slightly, from last quarter, the company said.
Controller chips for LCD TVs is the second-biggest revenue source for the firm.
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