Novatek net profit hits second consecutive high

BIG TRENDS: The company expects remote learning and working from home to boost revenue this quarter by more than 10 percent to nearly NT$20.6 billion

Taipei Times
Date: Aug 07, 2020
By: Lisa Wang / Staff reporter

Novatek Microelectronics Corp (聯詠) yesterday reported that net profit last quarter reached another record high, benefiting from strong demand for display drivers used in laptops, tablets and gaming monitors as people under COVID-19 lockdowns learn and work from home.

Second-quarter net profit grew 20 percent annually and 15.63 percent quarterly to NT$2.56 billion (US$86.77 million) from NT$2.13 billion last year and NT$2.21 billion in the first quarter.

Earnings per share jumped to NT$4.2 from NT$3.5 last year and NT$3.63 in the first quarter.

The Hsinchu-based chip supplier expects work-from-home and remote learning to continue trending as COVID-19 lockdowns resume around the world.    [FULL  STORY]

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