WT Microelectronics (3036 TT), a Taiwan based IC distributor, today held its earnings conference for the fourth quarter of 2013 and announced financial results and future outlook. Consolidated revenue for the fourth quarter of 2013 was NT$23.450 billion, representing an increase of 0.76% compared with the third quarter of 2013. Gross profit margin for the quarter was 5.72%, operating profit was NT$454 million, operating profit margin was 1.94%, net income before taxes was NT$405 million, net income after taxes was NT$323 million, ratio for net income after taxes was 1.38%, and earnings per share was NT$0.96.

Consolidated revenue for 2013 was NT$87.759 billion, gross profit margin was 5.83%, operating profit was NT$1.754 billion, operating profit margin was 2.00%, net income before taxes was NT$1.640 billion, net income after taxes was NT$1.304 billion, ratio for net income after taxes was 1.49%, and earnings per share was NT$3.86.

Driven by a strong demand for the PC customers, consolidated revenue for the fourth quarter of 2013 was NT$23.450 billion, which exceeded the higher end of the guidance of NT$22.8 billion and hit a record high. Due to a higher revenue contribution from PC and branded smartphone, gross profit margin for the fourth quarter decreased sequentially. As a consequence of higher revenue, operating expenses slightly increased accordingly. Inventory turnover day improved from 53 days for the third quarter to 51 days for the fourth quarter.

Looking forward, due to fewer work days in the Chinese New Year holiday season, the company now expected consolidated revenue for the first quarter of 2014 to be between NT$21.6 billion and NT$22.8 billion; gross profit margin to be between 5.7% and 5.9%; operating expenses to be slightly down sequentially; and inventory turnover day to slightly up compared with the fourth quarter of 2013.