April 10th, 2020 – Nanya Technology Corporation, (TWSE: 2408), today announced its results of operations for the first quarter, ended March 31st, 2020. Nanya’s quarterly sales revenue was NT$ 14,419 million, a 9.9 percent increase compared to the fourth quarter, 2019. In the first quarter of 2020, bit shipment increased by low-teens percent quarter over quarter and average selling prices (ASP) remained flat. Exchange rate negative impact 1.5 percent.
Gross profit of the quarter was NT$ 3,436 million; gross margin was 23.8 percent; a 1.9 percentage points decrease from that in the previous quarter. Operating Income of the quarter was NT$ 1,832 million; operating margin was 12.7 percent; a 1.7 percentage points increase from that in the last quarter. Non-operating income of the quarter was NT$ 491 million primarily due to interest incomes, investment income under equity method and foreign exchange gain. Income tax for this quarter was NT$ 395 million. The Company had net profit of NT$ 1,928 million, with net margin of 13.4 percent, a 3.6 percentage points increase from that in the previous quarter. Earnings per share (EPS) was NT$ 0.63 in the first quarter (based on weighted average outstanding shares of 3,054 million). Book value per share was NT$ 50.40 at the end of first quarter. All numbers are unaudited.
Nanya conducted a series of epidemic prevention measures complied with government’s regulation, plus additional policy to protect employees, contractors and visitors. No abnormal cases occurred thus far. Demand increased from remote work, virtual learning or online shopping; the company had strong bit shipment growth from datacenters, 5G infrastructure, networking and PC segments in the first quarter which was not affected by the COVID-19 epidemic. However, EU and U.S. epidemic may impact on global economics, Nanya will continue monitoring the future development of COVID-19 and will take appropriate measure to assure the overall normal operation.
* EBITDA = Operating income + Depreciation & Amortization Expenses
** EPS is based on weighted average outstanding shares of 3,054M
*** BVPS is calculated based on 3,055M outstanding shares
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