WT Microelectronics (3036 TT) held the Investor Conference today for the financial results of the first quarter of 2017 and business outlook. Consolidated revenue for the first quarter of 2017 was NT$38.378bn, down 15.6% QoQ but up 40.9% YoY. Consolidated gross margin was 4.68%, operating margin was 2.13%, net income after taxes was NT$503mn, up 24.8% YoY, and earnings per share was NT$1.06.
Consolidated revenue of NT$38.378bn for the first quarter of 2017 was slightly higher than guided NT$36bn to NT$38bn. Gross margin and operating margin were in line with guidance.
For the revenue breakdown by applications in the first quarter of 2017, Communication sector declined QoQ most, due to customers’ seasonal inventory adjustment, in line with our previous expectation. Automotive sector kept flat QoQ roughly, in line with our previous expectation. Computing and Consumer segments decreased QoQ but magnitude was better than our previous expectation, thanks to better demand from notebook (NB), projector, and air conditioner sub-sectors. Industrial segment showed QoQ growth, better than our previous expectation, thanks to stronger demand from security and automation.