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Inotera, Nanya post better-than-expected Q1 profits

TAIPEI, Taiwan -- Inotera Memories (華亞科技) and Nanya Technology Corp. (南亞科技) on Monday posted better-than-expected net profits of NT$11.2 billion and NT$6.1 billion for the first quarter.

Nanya Technology Senior Vice President Lee Pei-ing (李培瑛) said that the rising price of non-personal computer DRAMs cushioned the impact of the company's shrinking top line for the first quarter, adding that Nanya holds a positive outlook on the second quarter.

Nanya and Inotera called seasonal meetings for institutional investors in Taipei.

Inotera Memories, a DRAM joint venture between Nanya and U.S. memory chip-maker Micron Technology Inc., yesterday announced that its first-quarter revenue shrank 2.18 percent to NT$20.22 billion from NT$20.67 billion in the previous quarter.

Inotera's company bottom line came in at NT$11.25 billion for the first quarter, with earnings per share (EPS) at NT$1.85. Inotera last week said that revenue grew 9.9 percent to NT$6.62 billion in March compared to NT$6.02 billion in February.

Nanya Technology yesterday posted NT$11.69 billion for its first-quarter revenue, a 5.88-percent drop from NT$12.42 billion in the final quarter last year. Nanya reported NT$6.1 billion and NT$0.26 for first-quarter net profit and EPS. Nanya's revenue inched up 0.46 percent last month as average selling prices improved due to a better product mix.

Due to seasonal factors, overall DRAM market demand will slow down somewhat in the second quarter, Lee said, adding, however, that DRAM chip prices will remain stable, helping vault the company's average product prices.

Market researcher TrendForce Corp. (集邦科技) said earlier this month that contract DRAM chip prices fell 1.56 percent in the second half of last month from the previous month due to seasonal weak demand. While prices will continue falling in the rest of this year, TrendForce said most chipmakers will remain profitable as the price decline will not be as drastic as before on limited supply growth.

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