Taipei Times
Date: May 07, 2020
By: Natasha Li / Staff reporter

Novatek Microelectronics Corp (聯詠), the world’s leading supplier of driver ICs for LCD panels, yesterday reported a record-high net profit of NT$2.21 billion (US$73.9 million) for last quarter, rising 12.38 percent from a year earlier and 22.7 percent from the previous quarter.

That translated into earnings per share of NT$3.63, up from NT$3.23 a year earlier and NT$2.96 the previous quarter.

Revenue grew 13.01 percent on an annual basis and a milder 2.21 percent sequentially to NT$16.89 billion, thanks to robust sales of system on a chip (SoC) and driver ICs for mobile applications, which contributed 30 percent and 70 percent respectively to overall sales, the company said.

An undated photo shows Novatek Microelectronics Corp’s logo at the company’s headquarters in Hsinchu.

Photo: Hung Yu-fang, Taipei Times

Gross margin was better than expected, rising 0.39 percentage points to a record 33.2 percent, compared with Novatek’s forecast of 31 to 33 percent, due to a better product mix and nonrecurring engineering income, it said.    [FULL  STORY]