MANILA, Philippines - Cirtek Holdings Philippines Corp. posted first half net earnings of $3 million, up from $2.1 million in the same period last year.
Consolidated net sales went up to $28.3 million from $22.8 million a year ago, mainly driven by sales from its business of radio frequency, microwave and millimeter wave.
The company estimates that at least 50 percent of its output for the period went to communication, 20 percent to consumer electronics, 10 percent to computing, 10 percent to industrial and 10 percent to automotive.
“Cirtek continued to focus on process and materials engineering activities in order to create innovative and cost-effective solutions to customers,” it said in its report.
In the Philippines, the company is a pioneer in the Gallium Nitride (GaN) wafter technology that is used in various applications such as telecom, wifi, data, network, satcom, broadband, and consumer RF applications.
GaN technology refers to the use of Gallium Nitride as a semiconductor material that offers high level of mechanical stability, hardness, heat capacity and thermal conductivity, and very low sensitivity to ionizing radiation, thereby permitting devices to operate at much higher voltages, frequencies and temperature.
Through its subsidiary Cirtek Advanced Technology and Solutions (CATS), the company continues to maintain its position as the leading global supplier of millimeter wave products.
The global semiconductor industry is forecast to grow between five and eight percent this year, driven largely by the iPhone supply chain and automotive market. Sales of android phones, tablets, PCs and TVs, are also expected to increase.
Cirtek aims to expand its business portfolio through the development of its own products and brands, with a focus on high-growth industry segments such as wireless communication and mobile devices and applications, and online and mobile solutions such as e-commerce.