Happy days are here again sing it to the music you know, Stan.
Taiwan's UMC Q1 sales surge 47 pct y/y
sg.biz.yahoo.com
Wednesday April 9, 3:05 PM
TAIPEI, April 9 (Reuters) - Taiwan's United Microelectronics Corp (UMC) announced unexpectedly strong March sales on Wednesday, bringing first-quarter revenues up 47.2 percent from the same period last year.
UMC posted March revenues of T$7.06 billion, beating analyst expectations of around T$6.5 billion, and bringing the January-March total to T$17.9 billion. The figures also defied a seasonal first quarter decline in electronics shipments to edge up 2.1 percent from the previous three months.
The company released March revenues after close of trade in Taiwan on Wednesday. The issue fell T$0.40, or 1.93 percent, to T$20.30, while the benchmark TAIEX index fell 0.33 percent. UMC had previously forecast that it expected first-quarter shipments and average selling prices to remain flat with the previous quarter, implying revenues would stay mostly unchanged. Unlike its main competitor, Taiwan Semiconductor Manufacturing Co , which also posted strong March sales on Wednesday, UMC has steered clear of forecasting recovery from a long slump would begin in the second quarter.
(US$1 = T$34.8) |
