|In Brief: Chip maker UMC's net income doubled in 2004|
|Posted by: Infoworld on Feb 2nd, 2005 4:34 AM|
|News from Infoworld|
United Microelectronics Corp. (UMC), the world's second-largest contract chip maker, saw its net income rise 127 percent during 2004. UMC reported net income of NT$31.8 billion (US$994.4 million) on record revenue of NT$117.3 billion in 2004. However, UMC saw a steep drop in net income during the fourth quarter compared to the same period last year. UMC reported net income of NT$1.3 billion during the fourth quarter, 80 percent lower than the same period last year. UMC attributed its fourth quarter results to lower demand from customers, who had placed fewer orders as they sold off existing product inventories. Looking ahead, UMC expects demand for chip-making services to bounce back during the second half of 2005.