UMC Q1 Profit Climbs; Sees Slightly Higher Wafer Demand In Q2

(RTTNews) - Taiwanese Semiconductor foundry United Microelectronics Corp. (UMC) reported Monday that its first-quarter net income attributable to the stockholders of the parent was NT$2.21 billion or $73 million, up 83.7 percent from NT$1.20 billion a year ago.

Earnings per ordinary share were NT$0.19, up from NT$0.10 last year. Earnings per ADS were $0.031, up from $0.017 a year ago.

Consolidated gross margin was 19.2 percent.

First-quarter consolidated revenue grew 29.7 percent to NT$42.27 billion or $1.40 billion from NT$32.58 billion in the prior year.

Looking ahead for the second quarter, the company said its outlook is stable, and the company prioritizes medical related ICs shipments amid COVID-19.

SC Chien, co-president of UMC, said, "Looking into the second quarter of 2020, despite significantly higher levels of uncertainty caused by the COVID-19 pandemic, current outlook indicates slightly higher wafer demand, mainly supported by inventory replenishment across computer peripheral and consumer electronics end markets."