The sale of Faraday Technology's security control business boosted the Taiwan-based IC design service provider's profitability in 2017.
Faraday reported net profits for 2017 climbed to a five-year high of NT$836 million (US$28.7 million), which represented a 198% jump from 2016. The company's EPS for 2017 reached NT$3.40.
Faraday's revenues decreased about 10% sequentially to NT$1.13 billion in the fourth quarter of 2017, due mainly to a seasonal slowdown in ASIC chip demand. The company generated net profits of NT$41 million in the fourth quarter, down 67% on quarter, with EPS coming to NT$0.17.
Faraday announced in early 2017 it had reached a deal with Novatek Microelectronics under which Novatek would acquire IP technologies and assets related to surveillance camera control systems from Faraday for a total of NT$720 million. The ASIC service and silicon IP provider intends to focus more on its core business.
Faraday said previously that robust 28nm chip demand will make a positive contribution to company revenues in 2018. Faraday is partnering with mainly United Microelectronics (UMC) for ASIC/SoC design services.
