BIG PLUNGE:The required 10 percent surtax was paid on undistributed earnings of NT$765 million last quarter and net profits declined 91 percent on an annual basis

Taipei Times
Date: Jul 28, 2016
By: Lisa Wang / Staff reporter, in Taoyuan

DRAM chipmaker Nanya Technology Corp (南亞科技) yesterday posted a 79 percent quarterly decline in net profit, which it blamed on price declines and a surtax on undistributed earnings.

A non-operating loss of NT$457 million (US$14.25 million) by Inotera Memories Inc (華亞科技), its venture with US-based Micron Technology Inc, also weighed on the bottom line, the company said.

Net profits plunged from NT$1.85 billion in the first quarter to NT$397 million after paying a surtax on undistributed earnings of NT$765 million. On an annual basis, net profits dipped 91 percent from NT$4.25 billion.     [FULL  STORY]