Despite significant volatility experienced by the NAND flash memory market during the second quarter, Phison Electronics managed to make solid earnings for the quarter.
Phison Electronics has announced pre-tax profits of NT$541 million (US$18.7 million) on revenues of NT$7.555 billion for the second quarter of 2011. Pre-tax profits for the quarter showed growth compared to the NT$499 million posted a year ago, but slid 29% from NT$762 million in the prior quarter.
Phison's EPS for the second quarter came to NT$3 before taxes.
Phison noted that orders have picked up starting July. Having seen correction in the second quarter, NAND chip prices should become stable in the third quarter, Phison indicated.
Phison chairman Khein Seng Pua was quoted as saying in previous reports that the company's revenues for the third quarter would grow from those seen in the second quarter as peak-season demand is still anticipated.
Market watchers expect Phison's third-quarter revenues to increase by at least 10% on quarter. The company is likely to post more than 15% growth sequentially in July revenues, the watchers said.
Phison supplies memory controller ICs to customers including Toshiba and Kingston Technology. The company also provides finished products such as flash disk drives and memory cards.