Faraday Reported 2008 Second Quarter Results Second Quarter 2008 Highlights:
- Quarter-over-quarter revenue increased by 3.1% to NT$1,188 million (US$39.0 million)
- Gross margin, 43.4%
- Net income of NT$141 million (US$4.6 million)
- Earnings per share of NT$0.41 for the quarter
Hsinchu, Taiwan ¨CJuly 31, 2008 ¨C Faraday Technology Corporation (TSE: 3035), a leading fabless ASIC design solution and silicon IP provider, today announced its unconsolidated operating results for the quarter ended June 30, 2008. The second quarter revenue was NT$1,188 million, while net income and basic earnings per share came to NT$141 million and NT$0.41 per share, respectively.
Due to the change of product mix and NTD appreciation, gross margin of the quarter was 43.4%, down 4.3% compared to the previous quarter (1Q08). The operating margin of 2Q08 was 13.3% after implementing a new ROC accounting rule of expensing employee profit sharing£»net income was NT$141 million.
Advanced process technologies (0.13-micron and 90-nanometer process) accounted for 20% of the overall ASIC revenue in the quarter, increased by 40% over the previous quarter (1Q08); and more than four times growth over the same period last year (2Q07).
The unconsolidated sales revenue for the first half of 2008 were NT$2,340 million, gross margin and net margin were 45.5% and 15.2% respectively. EPS for the first half of 2008 was NT$1.04.
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Faraday Technology Corporation is a leading silicon IP and fabless ASIC vendor. The company's broad IP portfolio includes 32-bit RISC CPUs, DSPs, PHY/Controllers for USB 2.0, Ethernet, and Serial ATA. With 2007 revenue of US$ 156 million, Faraday is one of the largest fabless ASIC companies in the Asia-Pacific region, and it also has a significant presence in other world-wide market. Headquartered in Taiwan, Faraday has service and support offices around the world, including the U.S., Japan, Europe, and China. For more information, please visit: http://www.faraday-tech.com