Source: DigiTimes news
Passive component vendor Yageo has reported sequential decreases in both revenues and profits for the first quarter of 2019, and remains cautious about its performance in the second quarter.
Yageo posted consolidated revenues of NT$11.39 billion (US$368.5 million) for the first quarter of 2019, down 29.7% sequentially. Gross margin and operating margin slipped 14.3pp and 1.8pp, respectively, on quarter to 44.8% and 26.3%, in the first quarter.
Yageo generated net profits of NT$2.59 billion in the first quarter, down 39.5% sequentially. EPS for the quarter slid to a six-quarter low of NT$6.11.
Looking into the second quarter, Yageo has kept a cautious attitude citing a continued slowdown in demand for consumer electronics applications from the Greater China market, as well as ongoing inventory adjustments at some of its clients. Nevertheless, falls in Yageo’s product ASPs are slowing, said the supplier of MLCCs and chip resistors.
Yageo reported net profits of NT$33.84 billion on consolidated revenues of NT$77.16 billion for 2018, with both results setting record highs. EPS for the year came to NT$80.30.