Specialty DRAM and NOR flash chipmaker Winbond Electronics has reported net profit grew 5.7% sequentially to NT$350 million (US$12.53 million) in the fourth quarter of 2020. Net profit for the year came to NT$1.3 billion, rising 3.8% from 2019, with EPS reaching NT$0.33.

Winbond generated consolidated revenue of NT$20.35 billion in the fourth quarter of 2020, up 26.9% on quarter to hit a record high. Gross margin climbed 3.47pp sequentially to 30.43% in the fourth quarter.

Winbond's revenue climbed 24.4% to a record high of NT$60.68 billion in 2020, with gross margin edging up a slight 1.6pp on year to 28.08%.

Winbond indicated its profit growth last year was constrained by subsidiary Nuvoton Technology's acquisition of Panasonic's semiconductor business. Winbond is upbeat about its profit in 2021, thanks to a rally in NOR flash and specialty DRAM prices.

Winbond's board of directors has approved a capex budget of NT$1.12 billion for the company's production and R&D equipment and facilities, as well as IT systems.