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MediaTek Q3 earnings highest in 2 years

MediaTek yesterday reported a net profit of NT$4.941 billion for the third quarter, its highest in about two years.

The firm gave its third quarter financials during its investors' conference yesterday.

The earnings were made on sales of NT$29.47 billion for the July-September period, surpassing the firm's own estimate of between NT$26.5 billion and NT$27.7 billion. The figure was a quarterly increase of 25.72 percent.

The firm's gross profit margin was 41.2 percent and its net profit was NT$4.941 billion, translating into an earnings per share (EPS) of NT$4.06. For the first three quarters, the firm had net profit of NT$10.786 billion, or an EPS of NT$7.99 based on the company's market capitalization of NT$13.493 billion.

As for the fourth quarter, the firm gave an upbeat outlook, despite the fact the quarter is a slow season for the information technology industry.

Hsieh Ching-chiang, president of MediaTek, based his optimism on strong orders from China in the midst of a replacement cycle.

Hsieh had previously estimated that China's smartphone penetration rate by the end of the year would be 80 percent, translating into sales of 200 million handsets.

According to market observers, MediaTek would ship about 45 million to 50 million smartphone chips in the fourth quarter, and the total for the year may exceed 100 million, higher than the 95 million for last year.

With strong demand from China and emerging markets, experts estimate the firm's fourth quarter sales would decline by less than 5 percent from the third quarter.

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