EXPECTATIONS: Gross margin is likely to improve to 31 to 33 percent this quarter, but chairman Fang Leuh said that the second half of the year remains very uncertain

Taipei Times
Date:  Apr 29, 2020
By: Lisa Wang / Staff reporter

Vanguard Semiconductor International Co (世界先進), which makes power management ICs and driver ICs for displays, yesterday said that net profit last quarter fell 1.4 percent from the previous quarter to NT$1.48 billion (US$49.27 million) as a newly acquired fab from GlobalFoundries Inc dragged down gross margin and prices.

Net profit was NT$1.5 billion in the fourth quarter of last year. Despite the quarterly decline, net profit rose 6.4 percent annually from NT$1.39 billion.

Earnings per share fell to NT$0.89 from NT$0.91 the previous quarter, but rose from NT$0.84 a year earlier.

Gross margin dipped to 31 percent last quarter from 36.1 percent the previous quarter, as well as in the first quarter of last year, the company said in a statement.    [FULL  STORY]