Faraday Reported 2014 Third Quarter Consolidated Results

Hsinchu, Taiwan – Oct. 30, 2014 – Faraday Technology Corporation (TWSE: 3035), a leading fabless ASIC service and silicon IP provider, today announced its consolidated operating results for the quarter ended September 30, 2014. The third quarter revenue was NT$1,374 million, while net income (attributable to parent) and basic earnings per share came to NT$135 million and NT$0.33, respectively.

In the third quarter, IP revenue remained stable, and NRE declined compared to the previous quarter. In terms of ASIC MP (mass production), although the consumer sector obviously dropped resulted from the much weaker market demand, the total revenue slightly declined, offset by the growing communication sector. The gross margin for the quarter beat the guidance, coming to 52.7%, which was mainly contributed by a better mix among ASIC MP sectors.

Looking into the fourth quarter, IP revenue will keep stable; NRE revenue is projected to grow for more listings of emerging communication projects. In ASIC MP, some more communication projects will go for the mass production apart from the current 4G base station one. In addition, the revenue of multimedia sector is expected to be higher than quarter three. Therefore, the overall revenue in the fourth quarter is guided to grow together with good margin rate contributed by a higher NRE listing.

[1] Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with Taiwan-International Financial Report Standards(TIFRSs). They are un-audited and represent comparisons among the three-month period ending September 30, 2014, the three-month period ending June 30, 2014, and the equivalent three-month period that ended September 30, 2013. For all Q314 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. dollars at the exchange rate of NT$29.931 to one U.S. dollar.

Summary of Operating Results
(Amount: NT$ million)

more detail >>