SEMICONDUCTOR assembly and test company SFA Semicon Philippines Corp. said on Friday that higher raw material costs weighed on earnings in 2017. The company reported a 71.5-percent decline in net income last year, to $1.83 million versus the $6.42 million recorded in 2016. SFA said net earnings were affected by the 29 percent rise in cost of sales, which includes raw materials, depreciation, labor and other manufacturing costs, to $201.07 million. The increased costs resulted in a 54 percent decline in gross profit from $15.40 million in 2016 to $6.70 million last year. Last year, the company produced 427 million DDR4 DRAM memory modules, 121 million DDR3 DRAM memory modules and 69 million IC memory component chips.

Source: Manila Times April 13, 2018 16:14 UTC