Gallium arsenide (GaAs) IC foundry Advanced Wireless Semiconductor Company (AWSC) of Tainan Science-based Industrial Park, Taiwan has announced plans to repurchase five million shares (3.56% of its outstanding stock) at between NT$36 (US$1.13) and NT$78 per share from 1 September to 31 October, according to Digitimes. The bought-back shares will be distributed to employees. AWSC closed at NT$52.30 on the Taiwan Stock Exchange (TSE) on 31 August, up NT$1.30 or 2.6%.
AWSC saw its July revenue fall to the lowest levels since March 2014. The firm's cumulative 2016 revenue through July of NT$1.66bn is down 33.7% year-on-year.
For first-half 2016, AWSC reported net profits of NT$310m, down 38% year-on-year. Earnings per share (EPS) were NT$2.21, down from NT$3.66 in first-half 2015.
