Elan Microelectronics issues financial results for Q1 2017

Elan Microelectronics issues financial results for Q1 2017

Elan Microelectronics has issued its financial results for Q1 2017, reporting net profits of NT$140 million (US$4.654 million), according to a report by Digitimes.

The earnings represent a 13.58 percent decline over the previous quarter but a 27.3 percent increase over the same period one year earlier.

Meanwhile, the company’s earnings per share (EPS) for the quarter were NT$0.34 compared to NT$0.40 in the previous quarter and NT$0.26 in the same period one year earlier.

The company also saw its gross margin rise to a two-year high of 44 percent in Q1 2017 compared to 42 percent in the previous quarter and 40 percent a year ago due to an improvement in product combination, the company said.

Elan expects its sales to increase 12.02-14.54 percent sequentially to NT$1.78 (US$5.9 million) to 1.82 billion (US$6.0 million) in Q2 2017 with a gross margin of 44-46 percent.

The company’s revenues were NT$1.589 billion in Q1 2017, up 14 percent from Q1 2016.

Finally, shipments of Elan’s fingerprint sensors are expected to double in Q2 2017 from 700,000 units shipped in the first quarter, the company said.

Elan’s fingerprint sensors are being integrated into devices from Asustek Computer and several Korea-based smartphone vendors, according to industry sources.

Previously reported, Elan Microelectronics partnered with smart card integrator Jinco Universal and security solution firm Korea Smart ID (KSID) to develop smart cards with an embedded fingerprint sensor.

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