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UMC sees gross profit margin rising in Q2; quarterly profit beats estimates
April 30, 2014 / 9:41 AM / 3 years ago

UMC sees gross profit margin rising in Q2; quarterly profit beats estimates

TAIPEI, April 30 (Reuters) - United Microelectronics Corp , the world’s third-largest contract chip maker, said on Wednesday it expects its gross profit margin to rise to the mid-20 percent range in the second quarter from 18.6 percent in the first quarter.

UMC also forecast shipments to increase by the “low-teens percentage range” in the second quarter from the previous three months, with higher sales to telecom device makers driving growth.

UMC reported on Wednesday net profit fell 82 percent year-on-year in the first quarter to T$1.18 billion ($39.08 million), but it beat the expectations of analysts who had forecast a much smaller profit from UMC, which is battling for market share in an industry dominated by larger rival Taiwan Semiconductor Manufacturing Co Ltd (TSMC). ($1 = 30.1965 Taiwan Dollars) (Reporting by Michael Gold; Editing by Miral Fahmy)

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