LCD driver IC design specialist Novatek Microelectronics has reported web earnings surged 114.7% from a 12 months earlier to NT$1.97 billion (US$63.6 million) within the first quarter of 2019. EPS for the quarter got here to NT$3.23.
Novatek posted consolidated revenues grew 42.8% on 12 months to NT$14.95 billion within the first quarter of 2019. The firm’s revenues and web revenue for the primary quarter slipped 2.6% and 4.1%, respectively, on quarter.
Novatek has loved sturdy shipments for its high-ASP and high-margin TDDI (contact and show driver integration) chips, in line with market observers. The firm shipped over 40 million TDDI chips within the fourth quarter of 2018, and a complete of about 150 million items in all the 12 months making it the most important TDDI chip provider, the observers indicated.
Novatek has additionally kicked off shipments for OLED merchandise, and can see the shipments climb considerably later in 2019, the observers continued.
Continued progress in TDDI chip shipments, in addition to a ramp-up in OLED driver IC shipments, will allow Novatek to get pleasure from one other 12 months of record-high revenues in 2019, the observers mentioned.
