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Fabless IC firm MediaTek has reported net profits for the second quarter of 2017 declined 66.7% sequentially and 66.5% on year to NT$2.21 billion (US$73 million). EPS for the quarter came to NT$1.51.
MediaTek posted consolidated revenues of NT$58.08 billion for the second quarter of 2017, down 19.9% from a year earlier but up 3.6% on quarter. Gross margin grew to 35% in the second quarter from 33.5% in the first, but fell from 35.2% from the second quarter of 2016.
MediaTek credited its sequential revenue growth to “increasing market demand of certain consumer electronics.” Revenues were down on-year due mainly to lower shipments for smartphones, the company said. Meanwhile, a favorable product mix led to the sequential gross margin growth.
MediaTek generated operating profits of NT$2.36 billion in the second quarter of 2017, up 94.6% sequentially but down 66.6% on year. Operating margin increased 1.9pp on quarter but decreased 5.6pp from a year ago to 4.1%.
MediaTek also disclosed that inventory turnover came to 93 days at the end of the second quarter, up from 88 days a quarter earlier and 59 days during the same period in 2016.
For the first half of 2017, MediaTek reported revenues declined 11.1% from a year earlier to NT$114.16 billion, while gross margin slid to 34.3% from 36.5% during the same period in 2016. The company generated operating profits of NT$3.57 billion in the first half of 2017, down 68.9% on year, with operating margin falling to 3.1% from 8.9% a year ago.
MediaTek posted net profits of NT$8.85 billion for the first half of 2017, down 20% on year, with EPS reaching NT$5.80 compared with NT$6.95 during the same period in 2016.
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