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Faraday profits hit 5-year high in 2017

Taipei, Jan. 31, 2018 – 

The sale of Faraday Technology's security control business boosted the Taiwan-based IC design service provider's profitability in 2017.

Faraday reported net profits for 2017 climbed to a five-year high of NT$836 million (US$28.7 million), which represented a 198% jump from 2016. The company's EPS for 2017 reached NT$3.40.

Faraday's revenues decreased about 10% sequentially to NT$1.13 billion in the fourth quarter of 2017, due mainly to a seasonal slowdown in ASIC chip demand. The company generated net profits of NT$41 million in the fourth quarter, down 67% on quarter, with EPS coming to NT$0.17.

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