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To: Paul Lee who wrote (8810)	10/23/2000 7:01:51 AM
From: DJBEINO	Respond to of 9582

Taiwan's UMC posts record Q3 profit; ups forecast (UPDATE: Adds details) TAIPEI, Oct 23 (Reuters) - Taiwan's United Microelectronics Corp (UMC) (NYSE:UMC - news) said on Monday it had raised its net profit forecast for full-year 2000 by 66.6 percent to T$50.03 billion (US$1.56 billion) after posting record profit in the third quarter. The world's second largest made-to-order microchip manufacturer, said it posted record net profit in the third quarter of T$14.55 billion, up 488 percent from the same quarter a year earlier, and beat market forecasts of T$12 billion. Earnings per share (EPS) for the quarter was at T$1.31. Third quarter sales were up 106.5 percent year-on-year at T$29.48 billion -- also a record. UMC credited its strong showing to rising shipments of high-tech and pricey products. ``In the third quarter, UMC continued to lead the foundry industry in terms of net margin as well as in the percentage of revenue contributed by wafer shipments for advanced 0.18- 0.25-micron technology,'' UMC chairman John Hsuan said in a statement. ``We continue to see good revenue and margin growth despite the reported softening in certain sectors in the electronics industry,'' Hsuan said. He saw better days ahead, saying growth in the first quarter of 2001, would be better than the fourth quarter of 2000. UMC had projected a net profit of T$30.036 billion on sales of T$88.029 billion for 2000. In the first nine months, UMC's net profit was up 494 percent to T$34.067 billion on sales of T$73.233 billion. Figures included a merger with four affiliates that took effect on January 1 2000, but 1999 figures do not. Shares of UMC ended up T$3 or 5.4 percent at T$58.50 on massive volume of 146.5 million shares. UMC has risen 19.6 percent since Friday after the government announced a series of confidence-boosting measures. biz.yahoo.com