Local chip designer Faraday Technology Corp (智原科技) said yesterday its net income reached NT$211 million (US$6.6 million), or NT$0.58 in earnings per share (EPS), in the first quarter of the year, on revenue of NT$1.47 billion.
The first-quarter profit was 42.9 percent higher than what the Hsinchu-based company reported in the previous quarter, when it posted NT$147.43 million in profit, or NT$0.41 in EPS. It also jumped 256.5 percent from NT$59.09 billion profit, or NT$0.17 in EPS, a year earlier, Faraday said in an e-mailed statement.
First-quarter revenue grew 14.84 percent from NT$1.28 billion in the previous quarter and was up 58.6 percent from NT$927.89 million one year ago, the company said.
Faraday’s business covers low-margin application-specific integrated circuit (ASIC) design solutions. The fabless firm also provides high-margin silicon intellectual property (IP) rights.
Gross margin increased to 42.5 percent in the first three months from 41.7 percent in the previous quarter, which Faraday said was mainly because of the significant growth of the IP and communication ASIC product mix.
Faraday said it expects growth momentum to remain strong in the second quarter, mainly because of increased shipments of consumer, multimedia and USB 3.0 applications.
“However, the actual quarter-on-quarter rate will depend on the impact of capacity constraints,” the company said in the statement, adding that revenue would grow slightly in the second quarter and profit would be flat from last quarter.
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