Unisem Q1 earnings up nearly 48% to RM34.7m, sees stronger Q2

KUALA LUMPUR: Unisem (M) Bhd's earnings rose 47.4% to RM34.69mil in the first quarter ended March 31, 2016 from the RM23.53mil a year ago and expects greater improvement in the second quarter.

The chip maker said on Tuesday its revenue increased by 13.4% to RM317.81mil from RM280.05mil a year ago. Earnings per share were 4.73 sen compared with 3.49 sen.

“Asia and Europe segments recorded increase in revenue of 38.8% and 15.3% respectively whilst the revenue for US segment decreased by 7.0%,” it said.

As for its earnings, Unisem said the improvement from a year ago was due to the Asia and US segments achieved net profits whilst Europe segment incurred losses for the quarter under review. 

The increase in revenue for the current quarter was mainly attributable to improved average selling prices arising from the appreciation in the US$/renminbi and US$/renminbi exchange rates, as compared to the rates that prevailed in the corresponding quarter a year ago. 

“The improvement in net profit for the current quarter was due to increased revenue and improved margins from better contribution in our wafer bumping and advanced package operations,” Unisem said. 

However, Unisem said the group achieved profit before taxation of RM38.42mil in Q1, 2016, which was down 40.9% in the preceding quarter ended Dec 31, 2015. The lower profit before tax was mainly attributable to lower revenue in the current quarter.