Chicony Power Technology has received many rush orders for notebook-use switching power supplies since early March 2020 due to surging remote working and education needs in the wake of the coronavirus pandemic, and expects consolidated revenues for the second quarter to grow about 40% sequentially, according to the company at a May 4 investor conference.
Switching power supplies used in notebooks and desktops accounted for 48.7% of first-quarter 2020 consolidated revenues of NT$6.709 billion (US$223 million); those for smart home devices and cloud computing, 43.9%; and those for consumer electronics and others, 7.4%.
Chicony Power on May 4 reported consolidated revenues of NT$3.221 billion for April, increasing 16.90% sequentially and 23.23% on year, and those of NT$9.931 billion for January-April grew 0.89% on year.
Chicony Power Technology: Financial results, 1Q20 (NT$m) | |||
Amount | Q/Q | Y/Y | |
Consolidated revenues | 6,709 | (24.47%) | (7.19%) |
Gross margin | 15.17% | (1.56pp) | 0.84pp |
Net operating profit | 355.6 | (31.93%) | 19.46% |
Net profit | 76.8 | (65.55%) | (59.15%) |
Net EPS (NT$) | 0.35 | ||
Source: Company, compiled by Digitimes, May 2020
