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Technology Stocks : Silicon Motion Inc. (SIMO)
SIMO 74.93-0.8%9:42 AM EDT

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From: Elroy3/25/2019 5:30:47 AM
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Memory module firm Team Group looks to revenue and profit growth in 2019
Siu Han, Taipei; Jessie Shen, DIGITIMES
Monday 25 March 2019

Taiwan-based memory module maker Team Group will be aggressively expanding sales of its high-margin gaming and industrial products to enhance further its profitability in 2019, according to company chairman Danny Hsia.

Hsia also expressed optimism about Team Group's SSD shipments this year, driven by memory chip prices that have been falling since 2018. The company enjoyed robust SSD shipment growth in the first two months of 2019, when revenues increased 11.7% from a year earlier.

Team Group's overall shipments this year are expected to be 30-40% higher than 2018 levels, said Hsia, adding that revenues will grow around 10% on year. Falling chip prices have affected the company's product ASPs but driven shipment growth, Hsia continued.

Nevertheless, DRAM and NAND flash prices are likely to stop falling in the third quarter of 2019, Hsia commented. Team Group expects revenues this year to hit another record high of nearly NT$8 billion (US$259.5 million), with an on-year increase in profits.

Team Group posted revenues of NT$7.2 billion in 2018, up 5.5% on year and hitting a record high. EPS for the year came to NT$3.04.

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