IC distributor WPG has reported net profit of NT$2.42 billion (US$86.5 million) on revenue of NT$177.11 billion for the first quarter of 2021, with both results hitting record highs. EPS for the quarter came to NT$1.44.

WPG's revenue and net profit for first-quarter 2021 represented increases of 35.2% and 45.8%, respectively, on year. The company credited its positive performance during the quarter to strong chip demand for notebooks, servers and other device applications enabling remote work and education.

WPG expects to post revenue of between NT$185 billion and NT$193 billion in the second quarter of 2021, representing an up to 9% sequential increase, with gross margin ranging from 3.6% to 3.8%. EPS for the quarter is forecast to be between NT$1.16 and NT$1.40.

WPG indicated the ongoing chip shortages may persist through the first half of 2022. Shortages of diverse chips and components are in varying degrees, which will be an issue facing its customers, the IC distributor also said.

On the demand side, end-market applications including automotive electronics, 5G smartphones and network equipment, servers, and notebooks will be driving the overall chip demand growth this year, WPG said.