Taiwan-based Eris Technology has reported record-high April revenue thanks to automotive and industrial control applications, and it anticipates continued profit growth in the second quarter.
A subsidiary of Diodes, Eris Tech collected NT$188 million (US$6.3 million) in revenue in April, a 10% growth year-on-year. Its revenues from January to April totaled NT$716 million, up 16% on year.
The company’s April revenue renewed its own monthly record, propped up by automotive electronics and industrial control units, it said.
According to its financial statement for the first quarter of 2022, Eris collected NT$528 million in revenue, up 18% on year. Its operating profits grew 59%, and its pre-tax income and net income swelled 75% and 139% on year. The company’s first-quarter performance was better than it had estimated, it said.
It will open new automated production lines in the second and third quarter, while its subsidiary Yea Shin Technology is switching to 5-inch wafer production, which will drive the continued growth of its gross profit margin, Eris said.
The COVID-19 curbs in Shanghai and other Chinese cities did not affect the company, as its production base is located in Taiwan, it said.
Keyword: Diode maker Eris optimistic about 2Q22