On-Bright Has Forecast Revenues for The Second Quarter of 2012 Will Grow 50-60%

Analog IC design house On-Bright Electronics has forecast revenues for the second quarter of 2012 will grow 50-60% sequentially to NT$540-570 million (US$18-19 million). The firm credited its positive guidance to growing demand for power management ICs from China's smartphone sector as well as from the LED lighting industries in both sides of the Taiwan Strait. On-Bright's clients for power management ICs include the top-10 local smartphone vendors in China as well as a number of white-box handset makers, according to industry sources. On-Bright posted a gross margin of 51-52% in April, and expects gross margin to move up higher in May and June due to increasing shipments of high-margin analog ICs, said the company. Source: DIGITIMES