YoungTek posts sequential growth in February revenues, Single Well revenues decrease sequentially

YoungTek Electronics YTEC which provides backend services for LED and semiconductors as well as equipment assembly and distribution, saw its February 2011 consolidated revenues increase 6.51% sequentially to NT$223 million US$7.58 million while LED equipment maker Single Well saw its February revenues decrease sequentially by 17% to NT$37 million.

YoungTek indicated that demand for LED sorting increased significantly after the Lunar New Year holiday, and shipments in February reached almost 1.95 billion units. Demand for testing equipment is also strong and revenues increased sequentially compared to January, however, IC testing demand was dampened by the fewer working days.

YoungTek's February revenues increased 6.5% sequentially and 29% on year to NT$223 million. Accumulated revenues for January-February totaled NT$433 million, up 21.5% on year.

March revenues are expected to increase by 20% sequentially to about NT$270 million, YoungTek noted that with the second quarter being the peak season, order visibility is clear and revenues for the quarter are expected to increase by 20% sequentially.

Single Well saw its February consolidated revenues decrease by 17% sequentially to NT$37 million. March orders are expected to increase slightly, and overall demand is expected to be relevantly weak in the first half of 2011, and the company currently has about NT$200 million of orders in hand and will complete shipments by the end of the second quarter of 2011.

Due to strong demand from China-based LED packaging houses, Single Well's Kunshan plant, in China is seeing increasing orders, and expects order volumes and revenues to increase by 70-80% on year in 2011.