Winbond Reports the Financial Results for the Second Quarter of 2010

Taichung, Taiwan, August 06, 2010-Winbond Electronics Corporation announced the results of audited financial statements for the second quarter of 2010 which has been approved by the Board of Director. Revenue for the second quarter increased 22% QoQ and 103% YoY to NT$8.531 billion, while net income for the quarter rose 222% QoQ to NT$1.236 billion. Earnings per share for the second quarter was NT$0.33.

Winbond posted revenue of NT$15.544 billion, net income of NT$1.62 billion, and earnings per share of NT$ 0.44 for the first half of 2010.

To break down revenue by product lines, Specialty Memory including NOR Flash、Specialty DRAM, Mobile RAM and Graphics DRAM accounted for 98% of revenue in the second quarter. Winbond keeps focusing on the development of Specialty Memory and continuously makes steady efforts to build relationship with the existing customers and to explore potential customers. The Company’s profitability for the second quarter continuously increased, and the gross margin improved from 17% in the first quarter to 25% in the second quarter due to market recovery, growth in orders, better product mix, and manufacturing efficiencies.

In terms of product segments, NOR Flash showed notable revenue growth. Driven by stronger market demand, higher ASP, growing market in new applications, and completion of 90nm migration in the 300mm wafer fab, revenue of NOR Flash increased 60% compared to the first quarter.

As to Specialty DRAM, revenue increased about 30% QoQ as shipments of 65nm products grew. Mobile RAM also posted an about 30% QoQ increase in revenue thanks to healthy demand from MCP Memory market. Revenue from Graphics DRAM rose about 20% QoQ as GDDR3 and GDDR5 commenced mass production in the second quarter and gained more qualifications from major PC graphic customers.

Looking forward to the traditional peak season in the third quarter, demand in NOR Flash market expects to remain; shipments of Specialty DRAM and Mobile RAM will continue to enjoy stable growths. As a whole, Winbond holds a cautious and positive perspective on 3Q10 business.

    James Wen
    Vice President of Finance Center & CFO

News Liaison
    Ivy Hsu
    Professional Assistant Manager

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