Third Quarter 2010 Highlights:
- Year-over-year revenue increased 9.1% to NT$1,672million (US$52.3million)
- Gross margin, 43.9%
- Net income of NT$268million (US$8.4 million)
- Earnings per share of NT$0.73 for the quarter
Hsinchu, Taiwan –October,29 2010 – Faraday Technology Corporation (TSE: 3035), a leading fabless ASIC service and silicon IP provider, today announced its unconsolidated operating results for the quarter ended September 30, 2010. The third quarter revenue was NT$1,672 million, while net income and basic earnings per share came to NT$268 million and NT$0.73, respectively.
IP revenue increases 7% compared with last quarter, while NRE 22% benefiting from more deliveries of engineering samples. Gross margin achieved the rate of 43.9, by 1.5% up.
Looking into Q4, the shipment and revenue contribution of USB 3.0 will be obviously escalating, and demand in multimedia sector will be stronger, including the emerging application of mini boom box. Further, besides assisting a couple of customers to get the certification, Faraday's device controller was also certified via its storage product in the USB-IF Workshop this September. With the complete and certified USB 3.0 solutions, Faraday is now standing at a solid and leading position to take the share in market.
Summary of Operating Results
Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with ROC GAAP, which differ in some material respects from generally accepted accounting principles in the United States. They are un-audited, un-consolidated, and represent comparisons among the three-month period ending September 30, 2010, the three-month period ending June 30, 2010, and the equivalent three-month period that ended September 30, 2009. For all 3Q10 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. dollars at the exchange rate of NT$31.966 to one U.S. dollar.
More details available at http://www.faraday-tech.com/html/ir/IRQuarterlyReports.html