Cirtek H1 profit up 4%

MANILA, Philippines - Chipmaker Cirtek Holdings Philippines Corp. (CHPC) said its first half profit went up four percent to $1.8 million amid a tough global semiconductor industry.

In a statement, Cirtek said sales reached $19.3 million, five percent higher than in the same period in 2011, mainly driven by customer- and application-specific packages.

Cirtek said Europe’s prolonged debt crisis, a sluggish US economy and the slowdown in China had affected demand for electronic products using semiconductor devices.

The company, however, said it expects semiconductor demand to improve in the second half, primarily coming from wireless communication, automotive, industrial electronics and LED applications.

Among its major customers include companies who support major players in the wireless and automotive industries. Cirtek also recently forged a partnership with Light Engine, a US-based company specializing in LED design and an industry leader in application specific primary optics.

Cirtek said it is optimistic it would conclude two major projects in the third quarter which will contribute significantly to top line revenue and profits.

The company provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, final testing of semiconductor devices, and delivery and shipment to its customers’ end users.