I-Chun hits record high revenues for 3rd consecutive month

I-Chun hits record high revenues for 3rd consecutive month

The figures show the revenues have hit a monthly record for the third consecutive month

Thursday, July 08, 2010

TAIPEI: I-Chiun Precision Industry, maker of SMD lead frames used in LED packaging, posted consolidated revenues of NT$605 million (US$18.9 million) in the month of June. The figures show the revenues have hit a monthly record for the third consecutive month.

This is the first time the company exceeded the NT$600 million threshold, with June consolidated revenues up 5.71 per cent on month and 40.79 per cent on year.

The company’s consolidated revenues on for the second quarter of 2010 - NT$1.739 billion - were a new quarterly record as well, increasing 52.41 per cent from a year earlier and 27.49 per cent sequentially. Sales for the first half of 2010 came to a total of NT$3.104 billion, a growth of 60 per cent from a year ago.

The monthly capacity for SMD lead frames from I-Chun is expected to increase to two billion units by year's end from about 800 million units at the end of 2009. 54 per cent of the company's revenues in the second quarter reportedly came from SMD lead frames.

Market watchers say that third-quarter revenues are likely to grow by 16 per cent. They also anticipate that the fourth quarter should be strong as well due to rising demand from the LED TV and LED lighting markets.

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