Quantcast
Latest Stories

Cirtek net income up by 19%



MANILA, Philippines—Laguna-based semiconductor manufacturer Cirtek Holdings Philippines Corp. grew its first-quarter profit by 19 percent to $960,000 on improved margins and higher sales growth.

In a statement, Cirtek chief finance officer Anthony Buyawe said consolidated revenue for the quarter reached $10.1 million, or about 9 percent higher than the level in the same period last year.

“Consistent with our profit guidance at the start of the year, the company expects 10-12 percent growth from its current business. Sales and profit contribution from acquisition and major supply agreements will come on stream at the end of second quarter or in early third quarter,” Cirtek said.

Cirtek benefited from improved margins in the first quarter of the year at 9.5 percent versus 8.6 percent in the same period last year, Buyawe said.

The outlook for the global semiconductor industry this year is positive, with growth forecast ranging from a low of 4.5 percent to a high of 8 percent, the company said.

In terms of industry segment, double-digit growth is expected to come from the wireless communications segment, boosted by continuing strong demand for smartphones and tablets. The number of smartphones and tablets purchased is expected to jump from 821 million last year to 1.2 billion in 2013, as more of these devices invade workplaces around the globe, the company said.

Cirtek also sees modest growth from other market segments including automotive, industrial and consumer electronics.—Doris C. Dumlao


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Cirtek Holdings , Earnings , Philippines , Profit , semiconductor



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Ukraine FM: We are ready to fight Russia
  • Slain officer’s ‘diagram’ rocks PNP
  • 2 contractors fined P25,000 for delays in Edsa rehab
  • Luisita beneficiaries take over renters
  • 5 years of hard work pay off for top UP grad
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • Love it or hate it? Kris Aquino’s new hairstyle
  • A brand for life
  • Wear a rainbow on your wrist
  • Wearing Kate Moss
  • Sail into summer
  • Entertainment

  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • OMB exec’s assurance: We work 24/7
  • Business

  • Gaming stocks gain, PSEi eases on profit-taking
  • Cebu Pacific flew 3.74M passengers as of March
  • Corporate bonds sweeteners
  • Professionals in the family business
  • Foreign funds flowed out in Q1, says BSP
  • Technology

  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Afghan hospital guard kills 3 American doctors
  • Career diplomat is new PH consul general in Los Angeles
  • US4GG: Aquino should ask Obama for TPS approval, drone technology
  • Complex health care system for California’s elderly and poor explained
  • Tiff with HK over Luneta hostage fiasco finally over
  • Marketplace