Powertech net profit hits historic high

REBOUND IN DEMAND: About 70 percent of laptops and desktop computers are equipped with SSD storage, up from 50 percent in October last year, the firm said

Taipei Times
.Date: Jan 15, 2020
By: Lisa Wang  /  Staff reporter

Memorychip packager and tester Powertech Technology Inc (力成科技) yesterday said that net profit last quarter reached an all-time high, largely due to a recovery in demand for NAND flash memory chips.

Powertech’s net profit last quarter increased 30.3 percent quarter-on-quarter to NT$2.08 billion (US$69.47 million) from NT$1.6 billion in the third quarter of last year, while earnings per share rose to NT$2.68 from NT$2.06, the company said.

On an annual basis, net profit surged 53.1 percent from NT$1.36 billion in 2018, or earnings per share of NT$1.75, the firm said.

“Fourth-quarter revenue grew at a quarterly pace of 9.1 percent to NT$19.31 billion, which was unexpected and better than our estimate of 5 percent growth,” Powertech president Hung Chia-yu told investors in Hsinchu.    [FULL  STYORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.