LED driver IC vendor Macroblock has reported net profits of NT$34.44 million (US$1.14 million) for the first quarter of 2014, increasing 10.6% sequentially and 79% on year. The earnings translated into an EPS of NT$1.05 for the first quarter compared to NT$0.59 a year earlier.
The company also reported revenues of NT$457 million for the first quarter, down 12% sequentially but up 10% on year. First-quarter gross margin stood at 35.88%, a rise of 7.27pp from a quarter earlier.
Macroblock expects its sales to grow 30% sequentially in the second quarter of 2014, with a gross margin of 33-36%, company chairman LC Yang said at the company's latest investors conference.
Revenues for all of 2014 are likely to stay flat as compared to those for 2013, but gross margin and profits are expected to improve significantly in the year, buoyed by improvements in channel marketing and product mix, Yang revealed.