TAIPEI (dpa-AFX) - United Microelectronics Corp. (UMC) posted first-quarter profit of $45 million or $0.004 per share versus $152 million or $0.012 per share a year ago.
Earnings per ADS was $0.019, lower than $0.061 in the prior-year quarter.
Net Sales fell to $805 million from $953 million in the comparable period a year ago.
Shih-Wei Sun, CEO of UMC, said, 'In 1Q 2012, UMC's profitability and revenue exceeded our expectations. Wafer shipments reached 963 thousand 8-inch equivalent wafers, bringing overall capacity utilization to 71%. Revenue contribution from 40nm increased to 9%.
For the second quarter, we expect wafer shipments to increase 15% as communication and consumer IC demand grows. This projected growth reconfirms that the economic cycle trough seen in the first quarter signaled that the semiconductor industry's multi-quarter inventory correction has subsided.'
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