13 May '13, 7am

Faraday earnings stay flat in 1Q13

Faraday earnings stay flat in 1Q13 Josephine Lien, Taipei; Steve Shen, DIGITIMES [Monday 13 May 2013] IC design service provider Faraday Technology has reported net profits of NT$205 million (US$6.91 million) for the first quarter of 2013, down 1% from the previous quarter and 16% from a year earlier. First-quarter earnings translated into an EPS of NT$0.51 for the quarter compared to NT$0.52 of a quarter earlier and NT$0.61 of a year earlier. Faraday said its gross margin improved to 42.1% in the first quarter of 2013 from 38% in the prior quarter, buoyed by increasing sales of IP and NRE (non-recurring engineering) design products. Faraday indicated that it will begin shipping ASICs for 4G base stations in small volume in the second quarter of 2013 and will ramp up the shipments in the third quarter. While the company is expected to land more orders for NRE designs in th...

Full article: http://www.digitimes.com/news/a20130513PD204.html

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