United Microelectronics Q1 Profit Surges

(RTTNews) - United Microelectronics Corp. (UMC) Wednesday reported a surge in first quarter net profit attributable to stockholders to NT$2.286 billion from NT$210 million last year. Earnings per share climbed to NT$0.19 from NT$0.02 in the same quarter last year. Earnings per ADS for the quarter rose to $0.31 from $0.003 a year ago.

Revenue for the quarter increased 8.8 percent to NT$37.418 billion from NT$34.404 billion in the previous year.

Looking ahead to the second quarter, the company expects relatively flat outlook, despite recent headwinds in foreign exchange markets.

The company said its board proposed cash dividend of around NT$0.50, subject to approval of AGM on June 8.