Yageo Corp (國巨), the world’s third-largest supplier of multilayer ceramic capacitors, yesterday reported that its revenue last month more than doubled from a year earlier to NT$7.66 billion (US$264.46 million), thanks to rising customer demand and improved factory utilization in China.
That figure was the highest in about two years, and brought the company’s third-quarter revenue to NT$21.97 billion, soaring 113 percent from NT$10.32 billion in the same period last year.
On a quarterly basis, revenue jumped 63.1 percent from NT$13.47 billion in the second quarter.
Last month’s revenue growth was due to higher factory utilization for multilayer ceramic capacitors and another type of passive component chip resistor, which rose to 80 percent and 70 percent respectively, the company said in a statement.
However, it is still struggling to significantly boost its finished goods stockpile amid robust customer demand, Yageo said.
It said it expects its inventory turnover days to remain below 60 days, much lower than its healthy level of 100 days.
The company said it remains cautious about its business prospects in the fourth quarter, as the spread of COVID-19 has not yet stabilized and international trade disputes remain of concern.
It said it would continue to strengthen its strategic partnerships with major clients.
Yageo last week announced an alliance with Hon Hai Precision Industry Co (鴻海精密) — the largest assembler of Apple Inc’s iPhones — to expand its presence in the healthcare and electric vehicle markets.
Smaller rival Walsin Technology Corp (華新科技) yesterday reported revenue of NT$3.56 billion for last month, an increase of 50.3 percent from NT$2.37 billion a year earlier.
The strong growth was due to 5G phones launches by customers and inventory build-up demand ahead of the Mid-Autumn Festival holiday at the beginning of this month, Walsin said in a statement.
In the third quarter, Walsin posted NT$10.33 billion in revenue, up 42.5 percent from a year earlier, or 17.7 percent from the previous quarter.
That was the first time in seven quarters that Walsin’s revenue has reached NT$10 billion.
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