Memory IC design house Elite Semiconductor Memory Technology (ESMT) saw its unaudited profits for the first four months of this year outpace the total for the first three quarters of 2020, buoyed by rising specialty DRAM prices.

ESMT posted net profits of NT$397 million (US$14.2 million) in April, up 18.8% on month, with the month's revenues reaching NT$2 billion to a record high. The company expects to maintain its profits for May and June at high levels.

ESMT also expressed optimism about its operations in the second half of 2021, judging from brisk order visibility. With foundry capacity still falling short of demand, market conditions will continue to favor ESMT, said the fabless chipmaker.

Rising specialty DRAM prices already buoyed ESMT's revenue and profitability in the first quarter of 2021, when the company generated a record-high EPS of NT$2.30.

ESMT reportedly contracts Powerchip Semiconductor Manufacturing (PSMC) to manufacture its specialty DRAM products, which account for over 60% of company revenues. ESMT also supplies NOR flash memory, and audio and power ICs.