Second Quarter 2012 Highlights[1]:
Hsinchu, Taiwan –July, 27 2012 -- Hsinchu, Taiwan –July, 27 2012 – Faraday Technology Corporation (TWSE: 3035), a leading fabless ASIC service and silicon IP provider, today announced its unconsolidated operating results for the quarter ended June 30, 2012. The second quarter revenue was NT$1,905 million, while net income and basic earnings per share came to NT$288 million and NT$0.72, respectively.
The overall revenue, enjoying a 6.3% growth rate quarter over quarter, beat the corporate guidance of single digit growth, and came to a record-high level. Among the product mix, ASIC was the major growth driver. In margin wise, contributed by the continuous margin improvement of each application sector, the corporate margin met the previous guidance of more than 40%, up to 41.6%.
Looking into the third quarter and the 2nd half of Y2012, the corporate still guides positive on account of the stable business of consumer sector, and higher demand in multimedia and PC peripheral sectors. Further, some achievement in the communication sector with mid-to-long term market potential has been gained. Altogether above tends to continuously grow Faraday's business.
[1] Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with ROC GAAP, which differ in some material respects from generally accepted accounting principles in the United States. They are un-audited, un-consolidated, and represent comparisons among the three-month period ending June 30, 2012, the three-month period ending March 31, 2012, and the equivalent three-month period that ended June 30, 2012. For all 2Q12 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. dollars at the exchange rate of NT$29.6265 to one U.S. dollar.
Summary of Operating Results
(Amount: NT$ million) | 2Q12 | 1Q12 | QoQ% change | 2Q11 | YoY% change |
Revenue | 1,905 | 1,791 | 6.3 | 1,395 | 36.5 |
Gross Profit | 793 | 745 | 6.4 | 582 | 36.2 |
Operation Expenses | (478) | (447) | 6.7 | (428) | 11.7 |
Operating Income | 315 | 298 | 5.9 | 154 | 104 |
Non-op. Income (Expenses) | (2) | (30) | (91.6) | (92) | (97.3) |
Net Income | 288 | 248 | 16.3 | 10 | 2730.3 |
EPS (NT$ per share) | 0.72 | 0.61 | 0.03 |