Winbond Reports the Financial Results for the Third Quarter of 2010

Hsinchu, Taiwan, October 29, 2010-Winbond Electronics Corporation announced the results of audited financial statements for the third quarter of 2010 which have been approved by the Board of Directors. Revenue for the third quarter rose 1% QoQ and 51% YoY to NT$8.574 billion due to inventory adjustments in distribution channels. The third-quarter net income rose 54% QoQ to NT$ 1.901 billion.  The increase in net income was mainly due to the disposal of investments. Earnings per share for the third quarter was NT$0.52. For the first three quarters of 2010, Winbond posted revenue of NT$24.119 billion, net income of NT$3.521 billion, and earnings per share of NT$ 0.96.


To break down revenue by product lines, Specialty DRAM accounted for 39%; NOR Flash was 28%, and the percentage of Mobile RAM increased to 24%. Mobile RAM showed a notable growth, which was driven by strong demand from cell phone market. NOR Flash increased the penetration and share in worldwide leading tier-1 customers. As to Specialty DRAM, the shipments of 65nm products increased while revenue was flat in the third quarter. Demand of Graphics DRAM was weak, which was resulted from customers’ inventory adjustments.


Looking forward into the fourth quarter, Winbond will minimize the impact of seasonality and price erosion by accelerating technology migration and rolling out new products and new business. In addition to Specialty DRAM’s new business in automotive segment, 1.8V Serial Flash and 3V Parallel Flash products will be introduced sequentially, and 3V/1.8V Serial Flash and Serial Flash MCP will be ready to enter into cell phone market. Winbond will continue to migrate to advanced technology in order to reduce cost. As a whole, Winbond holds a cautious and positive perspective on 4Q10 business.

    James Wen
    Vice President of Finance Center & CFO

News Liaison
    Polly Fan
    Investor Relations Dept.

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