Vanguard International Semiconductor (VIS) has posted brisk results for the second quarter of 2012, with revenues up 44% and profits jumping significantly on quarter. But looking forward, the specialty IC foundry expressed caution estimating a 4-6% sequential decrease in wafer shipments in the third quarter.
VIS announced consolidated revenues of NT$4.55 billion (US$152 million) for the second quarter, when its wafer shipments increased 43% sequentially to 357,000 8-inch equivalent wafers. Wafer ASPs for the quarter registered a 3% rise.
On an annual basis, VIS' sales for second-quarter 2012 reflect an about 13% increase. The firm reported net profits of NT$772 million for the quarter, compared to NT$24 million in the prior quarter and the NT$363 million collected in second-quarter 2011. EPS for the quarter came to US$0.48.
VIS expects its wafer ASPs to grow another 4-6% sequentially in the third quarter, thanks to a favorable product mix. However, shipments for the quarter are likely to decrease at the same rate, the firm indicated. Capacity utilization rate is projected to be around 80% in the third quarter, down slightly from 83% in the second, the firm said.
End-market demand is gloomy, and customers have turned more cautious on building up inventories, VIS spokesperson DL Tseng noted.
Despite the cautious outlook, VIS said the company has revised upward its capex target for 2012 to NT$650 million from the NT$500 million estimated previously. The adjustment is to meet the rising demand for specific processes from customers, the company indicated.
The planned capex will also be used to maintain or replace equipment, and expand capacity at Fab 2, VIS added.
VIS is a Taiwan-based pure-play foundry, specializing in analog/mixed-signal and logic ICs.
