Elan 3Q16 profits surge

IC design house Elan Microelectronics has reported net profits of NT$243 million (US$7.7 million) for the third quarter of 2016, up 76% sequentially. EPS for the quarter came to NT$0.58.

Elan posted consolidated revenues of NT$1.96 billion in the third quarter, up 26.3% on quarter and slightly beating the company’s guidance range of NT$1.8 billion to NT$1.9 billion. The company credited the positive performance to growth in its touchscreen controller shipments for notebooks, tablets and handsets.

Thanks to a favorable product mix, Elan ‘s gross margin climbed to 41.53% in the third quarter from 40.7% in the second.

Elan’s net profits for the third quarter of 2016 hit the highest since fourth-quarter 2014.

Elan’s net profits for the first three quarters of 2016 totaled NT$491 million, down 23.5% on year. EPS for the nine-month period came to NT$1.18.

Elan disclosed its cumulative 2016 revenues through October slid 0.7% from a year earlier to NT$5.46 billion. The company saw its October revenues decline 17.6% sequentially to NT$548 million.

A seasonal slowdown in demand for consumer electronics devices will drag down Elan’s revenues in the fourth quarter of 2016, according to market watchers.

Categories: Bits + chips IC design, distribution

Tags: 3Q16 4Q16 Elan touchscreen

Companies: Elan Microelectronics

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