Phison Electronics, which supplies memory controller ICs as well as NAND flash-based products, has announced revenues slid 1.8% sequentially to NT$7.71 billion (US$266 million) in the first quarter of 2011. Net profits for the quarter were NT$745 million, or NT$4.18 a share.
Phison also posted NT$3.14 billion in revenues in March 2011, up 52% on month. The company said that judging from the present order status, its April revenues should see flat growth at NT$3-3.1 billion.
Phison had piled up NT$3.9 billion worth of chip inventory as of the end of March, the company claimed, adding that it has secured NT$1 billion worth of NAND chips for April.
In addition, Phison has reiterated its close relationship with chip partner Toshiba. Rumors have recently circulated that Toshiba is looking to sell all of its shares in Phison. Phison shares closed up 1.3% at NT$158 on the Taiwan Stock Exchange (TSE) on April 13, after two days of declines.
Toshiba previously disposed of six million shares of Phison, lowering its stake in the company to 12%.