Everlight Electronics Expects Its Revenues to Stay Flat in The Fourth Quarter

Taiwan-based LED packaging house Everlight Electronics expects its revenues to stay flat in the fourth quarter and the company will require its employees to take a total of eight days of unpaid leave during the November-December period as demand remains weak. Robert Yeh, chairman of Everlight, said that the employees will have to take three days of unpaid leave in November and the number of days will increase to five in December when revenues are likely to drop 10% sequentially. In terms of overall revenues and utilization rates, the fourth quarter will not be worse than the third quarter, but the unpaid leave policy will still be implemented to weather the market downturns, Yeh said, adding that demand will begin to pick up in the second half of 2012. Everlight will announce third-quarter revenues in a few days and Yeh pointed out that the results are not far off from previous guidance. The third quarter gross margin is likely to decrease to 20.5%, stated Yeh. Source: www.digitimes.com