Winbond Electronics Corporation Announces Financial Results For The First Quarter of 2004

(Taipei News) Winbond Electronics Corporation, a leading supplier of semiconductor solutions, today announced the audited financial results for the first quarter of 2004. Net sales totaled NT$ 7.98 billion, income after tax totaled NT$ 662 million and net income per share was NT$ 0.16. This represents a 214% increase versus the fourth quarter of fiscal 2003, when the Company reported earnings of NT$ 211 million or NT$ 0.05 per share.

The recovery of the semiconductor industry along with the Company's strategic positioning of its product-mixes contributed greatly to the Company's operating profit. In terms of products, shipments of Pseudo SRAMs and Specialty DRAMs saw a steady increase. The Company also successfully launched the 128Mb PSRAM in Q1 2004, which is expected to be the mainstream product in the Pseudo SRAM market, as the demand for higher-density products increases in the mobile handset market. In terms of revenue in the first quarter, the product breakdown was as follows: Commodity DRAM was 11%, Pseudo SRAM and Specialty DRAM 53%, Non-DRAM Memory 8%, and Logic Products comprised 28%.

In terms of Logic business, the product breakdown was quite similar to that in Q4 2003. Consumer products and Motherboard & Flat Panel Display products accounted for 49% and 40% of logic revenues, respectively. LCD Driver ICs shipment remained stable and its business is expected to pick up momentum starting in Q3. Winbond's Mobile Camera Controllers won several design-ins and the 1~1.3 mega-pixel products will start shipping in the latter part of Q2.

With regards to Memory products, the shipment of Commodity DRAMs continued to decrease, while revenue of PSRAM and Specialty DRAM products increased to meet the growth in market demand. Winbond also successfully launched the 32Mb NOR Flash product in Q1 by adopting its own WinStack technology. With the success of the 32Mb NOR Flash, the Company will continue to utilize this technology to produce 8Mb and lower density products.

Looking forward to the second quarter of 2004, the demand for PSRAM and Specialty DRAM products is expected to continue to grow as the economy recovers and the use of color handsets in the mobile phone market continue to increase. Winbond, having positioned itself as a Mobile Electronics Solution provider and successfully aligned itself to the market mainstream conditions, anticipates an even better operating performance in year 2004.

    Wilson Wen
    Vice President of Administrative Center

News Liaison
    Mike Liu
    Deputy Director

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