Faraday Technology, a fabless ASIC service and silicon IP provider, has announced net profits jumped 265% sequentially to NT$143 million (US$4.86 million) in the second quarter of 2020. EPS for the quarter came to NT$0.58.
Faraday saw its second-quarter revenues grow 3.2% sequentially to NT$1.31 billion, but gross margin slid 2.1pp on quarter to 46.8%.
Faraday indicated its NRE (non-recurring engineering) business only enjoyed a slight increase sequentially in revenues during the second quarter, while revenues generated from mass production for ASIC projects climbed 7% on quarter. Rising non-operating income made another positive contribution to the company's overall revenue increase in the second quarter.
Faraday expects to post a revenue increase of 14-16% sequentially in the third quarter, driven by a ramp-up in revenues from mass production for ASIC projects.
Faraday disclosed its cumulative 2020 revenues through June grew 11.2% from a year earlier to NT$2.57 billion, while revenues generated from mass production for ASIC designs climbed 17% on year.
Faraday enjoyed robust demand for ASIC product projects in 1H20
Photo: Digitimes file photo
Article translated by Jessie Shen
