Novatek profits fall on lower gross margin

Taipei Times
Date: Wed, Nov 09, 2016
By: Lisa Wang / Staff reporter

Novatek Microelectronics Corp (聯詠), the nation’s biggest supplier of driver ICs for LCD panels, yesterday reported a 5.59 percent sequential decline in net profit for last quarter due to a lower gross margin.

Net profit fell to NT$1.23 billion (US$39.04 million) in the quarter ending Sept. 30, compared with the previous quarter’s NT$1.3 billion, the company said.

Earnings per share dropped to NT$2.02 over the period, from the previous quarter’s NT$2.14, while gross margin shrank to 27.71 percent from the second quarter’s 28.05 percent, the company’s financial statement showed.

Novatek president Steve Wang (王守仁) blamed the fall on an increase in shipments of lower-margin driver ICs for high-definition handset panels.    [FULL  STORY]

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