Universal Scientific Industrial (Shanghai) Co Ltd (USI, 環旭電子), which designs and makes electronic products and modules, yesterday said net income surged 62 percent year-on-year in the first three quarters of the year, buoyed by strong consumer electronics demand.
“The third quarter is the high season for the electronics industry. USI benefited from customers’ new product launches,” USI said in a statement.
“Revenue grew across the board, with the fastest growth in the consumer electronics segment,” the company said.
USI is considered to be part of Apple Inc’s supply chain, as it sells system-in-a-package (SiP) modules to the California-based technology giant.
The Shanghai-based company is a subsidiary of Taiwan’s Advanced Semiconductor Engineering Inc (ASE, 日月光半導體), the world’s largest chip tester and packager.
USI shares are traded on the Shanghai Stock Exchange.
Net income soared to 862 million yuan (US$129.7 million) during the nine-month period ending on Sept. 30, compared with 531 million yuan in the corresponding period last year, the statement said.
That translated into earnings per share of 0.4 yuan, from 0.24 yuan per share in the same period last year.
The figure has surpassed USI’s total net profit for the whole of last year, when it made 806 million yuan.
Gross margin climbed 0.9 percentage points annually to 11.15 percent in the first nine months, with the net profit margin hitting 4.27 percent.
The company did not provide historical data for reference.
USI attributed the growth to resilient demand for its SiP modules used in smartphones, wearable devices, notebook computers and augmented reality (AR) devices, it said.
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