Nuvoton Announces the Financial Results for the First Quarter of 2011
Hsinchu, Taiwan, R.O.C. – April 27, 2011 -Nuvoton Technology (TWSE: 4919) held Board of Directors meeting today (27), and approved the first quarter of 2011 financial statements audited by CPA. The consolidated revenue for the first quarter of 2011 is approximately NT$1,678 million, net incomeof NT$61 million and EPS of NT$ 0.29.
Nuvoton Technology stated the first quarter of 2011 had a considerable level from the previous quarter. The first quarter of 2011 compared with 2010 NTD appreciated 3.5% in the fourth quarter, then the promotion of new products and OEM for portfolio optimization benefits continued to appear, so the effective appreciation of the NT against the adverse impact of revenue. The first quarter of 2011 revenue approximately 82% was from IC Business and 18% was from Foundry Business divided by operation. For IC Business, due to 2011 Lunar new year vacation was longer in China, the Sandy Bridge chipset design flaw and other factors which caused a more negative impact on revenues; As for Foundry Business, since customers response to early season stocking industry, making the foundry business revenue grow over the previous quarter.
The first quarter of 2011 decreased 12% compared to the first quarter of 2010, mainly due to exchange rates than the averages of sharp appreciation of the first quarter of 2010. The first quarter of 2010 due to rush orders and double booking caused by labor shortage in China, the traditional off-season was an unusual not off-season. Seasonal forecast this year will return to the past industry cycle model. Nuvoton has an optimistic perspective on the second and third quarters towards the overall industry performance.
Prospect of the second quarter of 2011, the operating conditions of the extensive applications of ARM ® Cortex ™-M0 series of 32-bit microcontrollers and ELA continue to expand our customers and also provide stable deliveries. In addition, Intel Sandy Bridge chip design flaws have been resolved, so it will return to normal shipping. Nuvoton stated that the second quarter of the traditional peak season will be for consumer electronics industry and foundry service industry, the computer IC industry will gradually enter the peak season. Nuvoton will depend on operational planning to expand revenue, and the pursuit of "stable earnings", through strategic objectives.
*Note: Nuvoton and NuVoice are registered trademarks of Nuvoton Technology Corp. All other trademarks and copyrights mentioned herein are the property of their respective owners.
Nuvoton Technology Corp. was established as a spin-out of Winbond Electronics’ Logic business group, starting operation in July, 2008 and IPO in September , 2010. Nuvoton Technology focuses on the R&D and sales in logic ICs, and leads in global market shares of speech ICs and computer related application ICs. Nuvoton owns a six-inch wafer fab, featuring in special niche process. Besides in-house IC products, the wafer fab also provides part of its capacity for foundry services. Nuvoton Technology provides high cost performance products for its customers by means of flexible technology innovation capabilities, full product solutions and excellent integration of technology synergy. Nuvoton offers superior services based on existing solid foundation and continues to realize its vision: "Be an indispensable partner to industry leaders." Nuvoton values the long-term relationship with its partners and customers; the company has established subsidiaries in the USA, China and Israel to strengthen regional customer support and global management. For more information, please visit /sites/nuvoton/
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Tel: +886-3-5770066 ext.3120