Phoenix Semicon nets $10.1M in H1

MANILA, Philippines - Phoenix Semiconductor Philippines Corp. (PSPC) earned $10.15 in the first semester of the year, 11 percent higher from the $9.17 million profit in the same period last year.

Gross revenues increased eight percent to $118.25 million, driven by the 13 percent growth in sales revenues of memory chips used in mobile phones, tablets, laptops and other devices, and the seven percent rise on sales of dynamic random access memory (DRAM) modules used for servers and personal computers.

PSPC vice president and chief finance officer Dongjoo Kim said 50 percent of the total volume output revenues of the company’s automated facility are for DRAM modules principally for servers, 48 percent for laptops and mobile devices memory chips production, and two percent for flash memory cards.

“The server applications market has been on a steady growth path compared to the fluctuating performance of highly competitive mobile phone and PC and laptop applications market. These latter markets have been experiencing flat growth in view of the slowdown in China and in Europe,” he added.

PSPC remains liquid with current assets amounting to $73.95 million against its current obligations worth $57.31 million.

Moreover, Kim said end-user electronics market will likely stage a rebound in the last quarter of the year, driven by the recovery and increased consumer spending during the December peak months.

“PSPC is ready to quickly ramp up production and take advantage of the anticipated recovery and growth of the global technology market in the second semester of the year,” he said.

PSPC is a wholly-owned subsidiary of Korea-based STS Semiconductor and Telecommunications Co. Ltd. The company is particularly engaged in the assembly and test of memory chips and devices for computers, laptops and servers, as well as micro SD cards for mobile phones.