Taiwan UMC’s second-quarter net profit down 6.3pct
Taiwan’s United Microelectronics Corp. said Wednesday net profit in the three months to June fell 6.3 percent year-on-year to Tw$2.99 billion ($99.3 million) and issued a weak demand warning.
However, UMC, the world’s second biggest contract microchip maker by revenue, said the second-quarter figure was more than double the previous three months’ profit of Tw$1.34 billion.
“In the second quarter, UMC’s results exceeded our expectations,” company chief executive officer Sun Shih-wei said in a statement.
Wafer shipments rose 18.6 percent from the previous quarter, with momentum coming mainly from the communication and consumer sectors, he said.
An engineer checks a 12-inch wafer at the United Microelectronics Corp (UMC) wafer factory in Tainan Science Park, southern Taiwan in 2006. Taiwan's United Microelectronics Corp. said net profit in the three months to June fell 6.3 percent year-on-year to Tw$2.99 billion ($99.3 million) and issued a weak demand warning. (AFP)
But the company was cautious regarding the outlook as the European debt crisis prompted customers to cut supply chain inventory, he said.
http://sg.news.yahoo.com/taiwan-umcs-second-quarter-net-profit-down-6-095202155-finance.html
Category: Taiwan
