United Microelectronics Corporation (UMC) has announced revenues for October 2011 slid 22.9% from a year ago to US$274 million.

October revenues showed an about 1% increase compared to September levels, UMC disclosed. The company had posted sequential declines for six straight months.

UMC's revenues for January through October 2011 were NT$89.71 billion, down 10.1% from a year earlier.

UMC said at its most-recent investors meeting that wafer shipments for the fourth quarter of 2011 would decrease about 10% sequentially with ASPs up 5%. It did not provide a revenue guidance.

UMC saw its revenues decline 10.5% on quarter to NT$25.19 billion in the third quarter. It previously estimated a larger 11-13% drop, citing sluggish end-market demand and inventory problems.

By: DocMemory
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