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Taiwan's UMC posts lowest quarterly net profit in 21 months

Taiwan's UMC posts lowest quarterly net profit in 21 months

United Microelectronics Corp. (UMC) on Monday posted a net profit of NT$1.46 billion (US$31.7 million; euro23.3 million) for the three months ended March 31, its lowest quarterly result since the second quarter of 2005.
The January-March net profit fell 88 percent from NT$12.29 billion a year earlier.
Analysts had expected UMC, the world's No. 2 contract chip maker by revenue after Taiwan Semiconductor Manufacturing Co., to post weak first quarter results because its clients continued to work through inventories.
TSMC said last week its first-quarter net profit dropped 42 percent from the same period last year as customers continued to clear inventories during a traditionally slow season.
UMC Chief Financial Officer Liu Chi Tung wasn't immediately available for comment. The company will hold an investor conference Wednesday to review its first quarter results and talk about its 2007 outlook.


Updated : 2021-04-14 16:32 GMT+08:00