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Weltrend merger with subsidiary Etrend
2009-08-17
1.IC design house Weltrend and its subsidiary today(August 17) held meetings of board of directors, which passed to adopt cash short-form merger to do the integration. After the merger, Weltrend is the surviving entity, and Etrend the disappearing entity. Because it is in cash, NTD 10 per share, to buy all the shares of outside shareholders, around 4.1% of total shares, Weltrend capital remains the same as 2,468 million as before the merger, no new shares issued. Etrend is a subsidiary of Weltrend; current capital is 140 million (NTD), with Weltrend holding 95.9% stock. Etrend is also an IC design house, main products are USB Host control IC, SD memory card control IC, magnetic stripe card decoding IC, etc. Weltrend said, this merger of the two companies is about the integration of technology resources, capital utilization and company management, and it will further elevate the overall company performance. |
2. Passed the 1st half 2009 financial report: Q2 operating revenues are 481 million (NTD), up 26% against 382 million of Q1; cumulatively the1st half operating revenues 864 million, down 27% against the same period last year. Q2 income from operation is 47 million, up 68% against 28 million of Q1; cumulatively the 1st half income from operation is 750 million, down 15% against 890 million of the same period last year. Q2 net income after tax is 31 million, up 72% against 18 million of Q1; cumulatively the 1st half net income after tax is 490 million, down 43% against 87 million of the same period last year. Net income per share is 0.2 (NTD). Both the revenues and profits of 2nd half will be better than the 1st half. |