Novatek Microelectronics Corp (聯詠) on Monday reported a record NT$6.08 billion (US$217.88 million) net profit for last quarter as the work-from-home and remote-schooling trends boosted demand for chips for notebook computers, tablets and gaming monitors.
Last quarter’s net profit tripled from NT$2.02 billion a year earlier, Novatek said.
On a quarterly basis, net profit expanded 33.63 percent from NT$4.55 billion, it said.
Photo: Grace Hung, Taipei Times
Earnings per share (EPS) surged to NT$9.66, compared with NT$3.63 a year earlier and NT$5.99 the previous quarter, it said.
Gross margin climbed to 43.65 percent, compared with 33.21 percent a year earlier and 38.04 percent the previous quarter, on higher prices and favorable product portfolios, the company said.
Gross margin beat the company’s estimate of 38 to 41 percent, it said.
Revenue last quarter also surpassed the company’s guidance of NT$25.2 billion to NT$26 billion, expanding 56.13 percent annually and 17.46 percent quarterly to NT$26.37 billion, Novatek said.
Sales of driver ICs and system on a chip solutions contributed 67 percent and 33 percent respectively to its overall sales in the first quarter, it said.
Novatek vice chairman and president Steven Wang (王守仁) in February said that TV chip shipments would outgrow driver IC shipments in the first quarter, thanks to shipments deferred from the previous quarter amid tight wafer capacity.
The company’s board of directors on Monday proposed the distribution of a cash dividend of NT$15.6 per common share, a payout ratio of 80.33 percent based on last year’s EPS of NT$19.42.
The distribution plan is subject to shareholders’ approval at the company’s annual general meeting on June 8.
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