United Microelectronics Q1 Profit Falls

(RTTNews) - Semiconductor company United Microelectronics Corp. (UMC) Wednesday posted lower first-quarter net income attributable to the stockholders of the parent of NT$1.18 billion or $39 million compared with NT$6.6 billion or $216 million in the prior-year quarter. Earnings per share for the quarter was NT$0.09 versus NT$0.52 last year. Earnings per ADS was $0.015 versus $0.085 in the year-ago period. The company's quarterly revenue rose to NT$31.69 billion or $1.04 billion from last year's NT$27.78 billion or $912 million. Looking ahead, for the the second quarter, the firm said it will benefit from the continued growth in customer demand, especially from the communication segment and expects increased wafer shipments and higher capacity utilization rates to drive better profitability.