Taiwan chipmaker UMC reports profit in Q1, predicts continuing growth in Q2

Taiwan chipmaker UMC posts profit in Q1

TAIPEI, Taiwan — Taiwan’s United Microelectronics Corp., the world’s second-largest contract chipmaker, reported a first quarter profit Wednesday of more than $100 million on strong global demand.

The company said in a statement its net income for the January-March period amounted to 3.48 billion New Taiwan dollars ($110 million) on revenue of NT$26.72 billion ($841 million).

UMC posted a loss of NT$8.16 billion a year earlier on revenue of NT$10.84 billion as global demand for computers slumped amid the financial crisis.

Chief Executive Sun Shih-wei said the first quarter results reflected record-high shipments of 8-inch wafers amid improving conditions in the world economy.

Sun said the company expects the growth to continue into the April-June period.

“We continued to experience robust demand,” he said. “UMC optimistically anticipates continued growth momentum.”

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, posted a net profit of NT$33.6 billion New Taiwan dollars ($1.1 billion) Tuesday on the rebound in global demand for computers.

On the Net:

UMC: www.umc.com