Thursday, October 30, 2003
United Microelectronics Corp , the world's second-largest manufacturer of semiconductors to order, tripled its profits in the third quarter to NT$4.2 billion from NT$1.4 billion last year due to increased demand and proceeds from investment sales, the company reported yesterday.
Demand for communications chips saw the biggest rise during the third quarter and this demand would continue until the end of the year, UMC chief executive Jackson Hu told investors.
At the same time, UMC expects to see the amount of total production capacity it utilizes at its manufacturing facilities, or fabs, rise from 84 percent in the third quarter to over 90 percent this quarter. .
Busy production lines at Taiwan's chipmakers are an indication that the semiconductor industry is finally coming out of a three-year slump. On Tuesday, industry leader and rival Taiwan Semiconductor Manufacturing Co said it used 98 percent of its production capacity in the third quarter.
UMC further improved its bottom line by booking NT$1.37 billion from selling shares in chipmaker Mediatek Inc and a further NT$791 million in dividends. The company forecast a 10-percent rise in shipments and 20-percent growth in profit margins this quarter, Hu said.
There is both bitter and sweet in UMC's performance.
By: DocMemory
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