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May 1st, 2013
 
ASE’s profit beats expectations
 
The chip packager was optimistic about second-quarter prospects, while analysts were cautious after a major client, Qualcomm, lowered its shipment estimates.
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Advanced Semiconductor Engineering Inc (ASE), the world’s biggest chip packager, yesterday reported a better-than-expected first-quarter net profit as customers’ inventory digestion ended earlier than expected.

While net profit fell 49 percent to NT$2.23 billion (US$75.07 million) last quarter, from NT$4.37 billion in the fourth quarter last year, it was up 8.79 percent from NT$2.06 billion in the same period last year.

The figure is also better than the NT$1.78 billion estimated by Credit Suisse analyst Randy Abrams.

Revenue only dropped 10 percent sequentially in the first quarter, which is better than our estimate of a decline of 10 to 13 percent. Customers completed their inventory digestion in January or February,” ASE chief financial official Joseph Tung told investors.

For this quarter, ASE expects its packaging and testing business to grow between 11 percent and 14 percent from last quarter, Tung said.

Average selling price would be stable this quarter, Tung said, indicating that revenue would grow at a similar pace as that of shipments.

Growth in the communications segment, primarily smartphone clients, would outpace that of computing and consumer sectors, Tung said.

ASE generated more than half of its revenue of NT$31.32 billion from the communications segment last quarter.

ASE’s guidance generated a lot of discussion at the investor conference yesterday as the growth figure was higher than the estimates of most analysts, including Abrams, after Qualcomm Inc, one of ASE’s major clients, projected a 6 percent sequential decline in shipments this quarter.

To read more: http://www.taipeitimes.com/News/biz/archives/2013/04/27/2003560790


 
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