UNISEM records 40% jump in Q2 revenue from 2009

(August 2, 2010) — Semiconductor packaging and test provider Unisem (M) Berhad announced results for the second quarter, ended 30 June 2010 (2Q10). The Group recorded revenue of RM359.5 million (approx US$110.8 million) for 2Q10, an increase of 40.8% from RM255.3 million (approx. US$71.4 million) achieved in the same quarter a year ago (2Q09).

Profit before taxation grew 133.3% to RM53.1 million (approx US$16.4 million) from RM22.8 million (approx. US$6.4 million) in 2Q09. Net profit for 2Q10 increased 102.2% to RM48.0 million (approx. US$14.8 million) from RM23.7 million (approx. US$6.6 million) in 2Q09. As compared to the prior quarter (1Q10) the Group revenue and net profit grew 9.2% and 16.2% from RM329.3 million (approx. US$97.7 million) and RM41.3 million (approx. US$12.4 million) respectively in 1Q10.

For the first half of the current financial year ended 30 June 2010 (1H10), the Group recorded revenue of RM688.8 million (approx. US$208.6 million), a 58.0% improvement from RM436.0 million (approx. US$121.5 million) achieved for the six-month period a year ago (1H09). For 1H10, the Group recorded a net profit of RM89.3 million (approx. US$27.1 million) compared to net profit of RM320,000 (approx. US$89,000) achieved in 1H09. The significant improvement in revenue and profits was attributable to improved sales volume due to strong demand for the products and services of the Group for the period under review.

Group earnings before interest, tax, depreciation and amortization (EBITDA) for 2Q10 came in at about RM94.9 million (approx. US$29.3 million), EBITDA margin was about 27%. Equipment capacity utilization averaged at about 82% for the group in 2Q10. Group capital expenditure incurred in 2Q10 was about RM86.4 million (approx. US$26.6 million), principally for purchase of equipment for packaging & final test activities and facilitisation of cleanroom for Unisem Chengdu and Unisem (M) Berhad.

Commenting on the outlook of the Group, John Chia Sin Tet, group managing director said, “We expect the demand for the products and services of the Group to improve further in the third quarter and the business of the Group for the financial year to remain strong for the remaining period to the end of the financial year.”

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Unisem is a global provider of semiconductor assembly and test services, such as wafer bumping, wafer probing, wafer grinding, a wide range of leadframe and substrate IC packaging, wafer level CSP and RF, analog, digital and mixed-signal test services. For more information, visit www.unisemgroup.com

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