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Flexium sees sharp drop in 1Q16 results

Clicks:Updated:2016-05-05 09:05:25【Print】【Close】

With weak iPhone 6s demand, Taiwan-based printed circuit board (PCB) maker Flexium Interconnect's net profit only reached NT$422 million (US$13.05 million) in the first quarter, down 46.5% sequentially and 40.7% on year. Its EPS for t

With weak iPhone 6s demand, Taiwan-based printed circuit board (PCB) maker Flexium Interconnect's net profit only reached NT$422 million (US$13.05 million) in the first quarter, down 46.5% sequentially and 40.7% on year. Its EPS for the quater only reached NT$1.63, less than half of the NT$3.28 in the same quarter a year ago.

For the second quarter, Flexium expects its utilization rate to grow by 0-10pp sequentially from 50-55% seen in the first quarter. The company is also optimistic it will see revenue performances grow each quarter in 2016. Flexium expects its revenues to increase by a double-digit percentage on year in 2016.

Flexium pointed out that the smartphone market, which has the strongest demand for flexible printed circuit board (FPCB), is facing weakening growth, and the company has started diversifying into non-smartphone applications.

Flexium's major product lines are sensor, wireless and camera modules. With Apple preparing to release its next-generation iPhone, expected to be equipped 3D touch and dual-lens camera, in the second half of 2016, some market watchers expect demand for FPCBs supporting such features will start growing during the period, improving Flexium's performances in the second half.

In 2015, high-end fine-pitch FPCB products contributed 75-85% of Flexium's revenues and the proportion is expected to stay above 80% in 2016. Flexium currently has plants in Kaohsiung, Taiwan and Kunshan, China. The company's capex was about NT$1.5 billion in 2015 and the amount for 2016 will reach NT$1 billion.

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