UMC, a global semiconductor foundry, has reported total net sales of $927m for the second quarter of 2010, an increase of 31.3% compared to $705m for the same period last year.
The company posted an operating income of $169m for the second quarter of 2010, compared to $84m for the same period last year.
For the second quarter ended June 30, 2010, the company posted net income of $164m, an increase of 241% compared to a net income of $48m for the same quarter a year ago. Net income per diluted share was up by 250% to $0.07 from $0.02 per share for year ago quarter.
Shih-Wei Sun, CEO of UMC, said: "Revenue this quarter exceeded expectations, due to UMC’s accelerated ramp-up of advanced process capacity and optimizstion of product mix. Revenue contribution from 65nm and below products grew more than 50% compared to the previous quarter, with 40nm output reaching 3% of revenue.
"As such, UMC achieved a 5-year high in operating income and an annualised ROE of more than 10% this quarter. Demand is expected to remain robust for advanced processes, driven by new applications and technology migration. Therefore, we are optimistic about third-quarter growth, anticipate rising revenues and profit, and maintain a healthy outlook for mid to long-term demand."
