25 Apr '12, 9am

UMC posts better-than-expected 1Q12 results; sees growth in 2Q

UMC posts better-than-expected 1Q12 results; sees growth in 2Q

UMC posts better-than-expected 1Q12 results; sees growth in 2Q Jessie Shen, DIGITIMES, Taipei [Wednesday 25 April 2012] United Microelectronics (UMC), the world's second largest pure-play foundry supplier, has reported better-than-expected revenue and profit results for the first quarter of 2012. The firm also gave positive guidance for the second quarter, citing the end of customer inventory corrections. UMC reported net profits of NT$1.34 billion (US$45.27 million) on revenues of NT$23.77 billion for the first quarter of 2012. Sales were down 2.7% from NT$24.43 billion in the prior quarter, better than its estimate of larger decreases, while profits registered a sequential 36.2% increase. Compared to a year ago, UMC's net profits and revenues for first-quarter 2012 saw declines of 15.5% and 70.2%, respectively. EPS for the first quarter came to NT$0.11, compared with NT$...

Full article: http://www.digitimes.com/news/a20120425VL201.html

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