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Powerchip foundry posted net loss for the quarter

Wednesday, March 18, 2020

Pure-play foundry Powerchip Semiconductor Manufacturing (PSMC), which is wholly-owned by Powerchip Technology, swung to net losses of NT$1.48 billion (US$48.9 million) in 2019. EPS turned to negative NT$0.94.

PSMC reported revenues fell 28% to about NT$35.9 billion in 2019, while gross margin slid 22.25pp on year to 8.36%. Operating margin slipped into the red at negative 5.85%.

PSMC attributed the negative performance to the impact of trade disputes between the US and China, falling fab utilization rates, and unfavorable memory market conditions.

PSMC is cautiously optimistic about its operations this year, thanks to process technology transitions, and a more diversified offerings and customer portfolio. An anticipated rally in memory prices will be another contributing factor, the company said.

PSMC chairman Frank Huang was quoted as saying in a recent report that the coronavirus outbreak was expected to start easing between June and July. PSMC runs 12- and 8-inch wafer fabs.

By: DocMemory
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