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Analog IC specialist GMT expects record revenue in 2Q21

Taiwan-based Global Mixed-mode Technology (GMT), a supplier of analog and power management (PWM) ICs, expects to see its second-quarter revenue grow up to 10% sequentially to a record high.

GMT expects to post revenue of between NT$2.25 billion (US$80.5 million) and NT$2.4 billion in the second quarter of 2021, representing a sequential increase of 3.5-9.9%. The estimate also represents the highest quarterly level in the company's history.

GMT said the company is upbeat about its operations in the second half of this year, thanks to more foundry support compared to the first half. The overall customer orders will still come above the available foundry capacity, the fabless chipmaker continued.

Amid tight foundry capacity, GMT intends to give supply priority to high-margin orders, the company said. The chipmaker already saw its gross margin reach 42% in the first quarter of 2021.

GMT generated net profits of NT$399 million in the first quarter, up 44.6% sequentially and 70.5% from the same period in 2020. EPS for the quarter came to NT$4.66.