United Microelectronics raises 1999 pretax profit forecast by 55.6%
Taipei, Dec. 15, 1999 (CENS)--United Microelectronics Corp., Taiwan's second made-to-order chipmaker, on Wednesday revised upward its forecast for 1999 sales revenue to NT$29.1 billion, up 16.36% from NT$25.1 billion projected earlier, company officials said.
The company also adjusted upward its pretax earnings forecast for the year to NT$10.2 billion, a jump of 55.6% from its earlier forecast of NT$6.55 billion. Meanwhile, its EPS (earnings per share) for the year was raised to NT$1.53 from the original NT$0.98.
The upward adjustment in its business performance was largely due to increased sales volume and unit prices, resulting from a continued recovery of the global semiconductor industry, said a spokesman for the chipmaker.
UMC's business outlook for the coming year now looks brighter following the implementation of a merger with four of its affiliates in early 2000, the official said.
After the mergers and the completion of several expansion projects within the group, UMC would be able to produce 2.4 million units of eight-inch equivalent wafers next year, compared to a projected production volume of 2.8 million units by its rival, Taiwan Semiconductor Mfg. Co.
For 2000, TSMC's sales revenue is expected to top NT$130 billion with an EPS of NT$6, while UMC will rake in sales revenue of NT$100 billion with an EPS of NT$3.
UMC's sales revenue hit a record monthly high of NT$2.96 billion in November, up from NT$2.87 billion recorded in October.
Foreign investors are poised to benefit from UMC's revised sales figure because foreigners have been buying UMC shares continuously over the past one-and-a-half months. As of Wednesday, foreign investors as whole currently hold a total of 932 million UMC shares, compared to some 616 million shares they held in mid-October.
UMC shares finished flat at NT$96 per unit on Wednesday.
|
