Taiwan-based passive component maker Yageo has reported net EPS of NT$1.62 (US$0.05) for the first quarter of 2017 compared with NT$1.25 a year ago.
Despite losses incurred from foreign exchange transactions totaling NT$371 million, Yageo generated net profits of NT$818 million in the first quarter, up slightly from the NT$810 million reported for the same period in 2016.
Yageo posted consolidated revenues of NT$7.35 billion in the first quarter of 2017, up 2.2% sequentially and 0.5% on year, while gross margin fell 0.3pp on quarter but increased 0.5pp from a year earlier to 25.1%. The company generated operating profits of NT$1.08 billion in the first quarter with operating margin reaching 14.7% compared with 12.2% in the fourth quarter of 2016 and 14.3% in first-quarter 2016.
Yageo credited its revenue growth during the first quarter to rising demand coming from the industrial product, distributor and EMS segments.
Market watchers expect Yageo to enjoy sequential revenue growth through the third quarter of 2017. The maker of MLCCs and chip resistors is expected to see its 2017 EPS top NT$10, according to the watchers.