Macronix International saw its fourth-quarter 2010 gross margin reach 54% and operating margin 26%, beating its guidance. The company credited the better-than-expected results to improvements in product mix and production cost reductions.
However, Macronix' revenues slid 32.5% sequentially to NT$5.51 billion (US$190 million) in the fourth quarter. The figure came below its estimate of between NT$5.8 billion and NT$6 billion. This shortfall was due to postponed shipments at the request of customers, the company said.
Macronix saw fourth-quarter sales of its NOR flash products decline 33% on quarter with unit shipments down 21% sequentially. NOR flash accounted for 51% of the company's overall sales in the quarter.
Sales of Macronix' ROM products decreased 33% sequentially in the fourth quarter with unit shipments down 34%. The segment accounted for 39% of the company's total fourth-quarter revenues.
Capacity utilization rate dropped to 97% in the fourth quarter from over 100%% in the third, but within the company's projection.
Macronix also revealed that products fabricated at 75nm and more-advanced processes collectively accounted for 36% of its fourth-quarter revenues, while the combined sales ratio of 0.15-, 0.13- and 0.10-micron nodes was 60%.
Macronix reported NT$1.12 billion in fourth-quarter net profits, down 59% on quarter. But it earned NT$7.78 billion in 2010 net profits on revenues of NT$27.56 billion, showing growth of 37% in profits and 5% in sales.
Macronix expects revenues to be between NT$6.5 billion and NT$6.8 billion in the first quarter of 2011, up slightly on quarter. Gross margin and operating margin are estimated at 38-42% and 16-20%, respectively.
Macronix shares closed at NT$23 on January 25, up NT$0.05.