02.13.2001
Sunplus reports strong financials for 2000

• Sunplus (2401 'Ling Yang') released its financial results for 2000 yesterday, with revenues coming in at NT$6.27b, pretax profit at NT$2.15b and profit after-tax at NT$2.18b (71% growth YoY). Outstanding shares stood at 370m, making for an EPS of NT$5.88.

• In 1993 to 1999, sales CAGR expanded 43% and net profit 57%. We see these figures as affirming Sunplus' ability to achieve steady growth, a result of the company's ability to innovate new products to cope with market trends and demand.

• Multimedia IC, which is forecast 50% revenue growth in 2001, is the anticipated growth driver for this year. LCD driver/ controller and MCU are expected to grow 20-30%. Sunplus predicts overall revenue growth of 30% in 2001.

• We are confident on the company's ability to boost revenues in 1Q01. We also expect gross margin to stay at an even keel and possibly improve given Sunplus' strengths in product development, product diversification and the possible reduction of foundry prices.

AngelLo@Primasia.com +886-[0]2-2547-8865