Elan sees earnings improve in first quarter
27 April 2017 16:11 GMT

Taiwanese touchscreen and fingerprint sensor firm Elan has reported a rise in revenues so far this year.

The company has reported net profits of NT$140 million (US$4.654 million) for the first quarter of 2017, down 13.58% on quarter but up 27.3% on year, reports Digitimes.

The company also saw its gross margin climb to a 2-year high of 44% in the first quarter compared to 42% in the previous quarter and 40% a year ago due to an improvement in product mix, the company said at its latest investors conference.

Elan expects it sales to increase 12.02-14.54% sequentially to NT$1.78-1.82 billion in the second quarter with a gross margin of 44-46%. The company posted revenues of NT$1.589 billion in the first quarter, up 14% from a year earlier.

Shipments of fingerprint sensors are expected to double in the second quarter from 700,000 units shipped in the first quarter, the company said.

The company's fingerprint sensors have found their way into the supply chain of Asustek Computer and Korea-based smartphone vendors, according to industry sources.

The company's stock price rose NT$2.20 to finish at NT$40.95 on the Taiwan Stock Exchange (TSE) during the April 26 session.