KUALA LUMPUR (Feb 22): Semiconductor manufacturer Unisem (M) Bhd’s net profit dipped 37.62% to RM32.02 million in the fourth quarter ended Dec 31, 2017 (4QFY17) compared with RM51.34 million a year ago due to the depreciation of the US dollar coupled with lower profit margins arising from change in product mix.

Earnings per share for 4QFY17 dropped to 4.36 sen per share from 7 sen per share previously, Unisem said in a Bursa Malaysia filing today.

Quarterly revenue fell 1.3% to RM357.41 million from RM362.13 million attributable to lower sales arising from depreciation of the US dollar against the ringgit compared to the prevailing rate a year ago.  

For the full financial year ended Dec 31, 2017 (FY17) Unisem’s net profit decreased by 1.74% to RM159.46 million against RM162.29 million in the previous year due to lower profit margins arising from change in product mix as well as the recognition of foreign exchange losses of RM10.28 million in FY17 against foreign exchange gains of RM13.93 million in FY16.

Earnings for FY17 dropped to 21.73 sen per share versus 22.12 sen per share in FY16.

However, FY17 revenue rose 10.81% to RM1.47 billion from RM1.32 billion mainly attributable to higher sales, improved average selling prices and the appreciation of US dollar and ringgit exchange rate.

Going forward, Unisem expects the performance of the group to be satisfactory in the next financial year in line with the modest growth forecast for the semiconductor industry.

Unisem shares closed down one sen or 0.34% to RM2.95, giving it a market capitalisation of RM2.16 billion. Over the past 12 months, the counter has gained about 9.46%.