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MediaTek Saw Revenue Lose 18% in Oct. Worse Than Expected
2007/11/09
Taipei, Nov. 9, 2007 (CENS)--MediaTek Inc., currently Taiwan`s No.1 fabless house by revenue, recently announced its revenue for October dropped over 18% from a month earlier, worse than its projected 10-12% decline.
Last month, the company had consolidated revenue of NT$8.1 billion (US$247.3 million at US$1:NT$33). But the company scored total revenue of NT$67.7 billion (US$2 billion) in the first 10 months this year, soaring 50% from the same period of last year.
The company`s share price once plunged 3% in Nov. 7 trading on the downbeat announcement.
However, some industry watchers reiterated "buy" ratings on MediaTek shares. They pointed out that whether the October recession is a real decline will depend on the company`s revenues for December and upcoming January. They went on that if the company`s revenues for the next two months are roughly the same as recorded in usual seasons, the company`s lukewarm revenues in this quarter will indicate that "structural problem" does not exists.
Sunplus Technology Co., Ltd., another Taiwanese fabless house, raked in revenue of NT$674 million (US$20 million) in October, contracting over 10% from a month earlier. However, the company estimated its revenue for this month and next will very likely rebound by virtue of increased shipment of chips for TVs.
Service & Quality Technology netted revenue of NT$51 million (US$1.5 million) in October alone, dropping nearly 30% from a month earlier although surging 22.04% from the same period of last year.
(by Ken Liu)
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