Faraday Reported 2008 Fourth Quarter Results

Fourth Quarter 2008 Highlights [1]:

• Year-over-year revenue decreased 20.7% to NT$1,102 million (US$33.4million)
• Gross margin, 52.5%
• Net income of NT$122 million (US$3.7 million)
• Earnings per share of NT$0.34

Hsinchu, Taiwan -- January, 20 2009 -- Faraday Technology Corporation (TSE: 3035), a leading fabless ASIC design solution and silicon IP provider, today announced its unconsolidated operating results for the quarter ended December 31, 2008. The fourth quarter revenue was NT$1,102 million, while net income and basic earnings per share came to NT$122 million and NT$0.34 per share, respectively.

Owing to the change of product mix and increase in NRE, the gross margin of this quarter was 52.5%, increasing greatly compared to the previous quarter.

In Year 2008, the unconsolidated sales revenue were NT$1,102 million, gross margin and net margin were 52.5% and 14.4% respectively. EPS was NT$2.00.

The total revenue of 2008 slightly declined by 3.5% from 2007, which mainly resulted from the decrease of IP revenue. Yet the ASIC business, including mass production and NRE, in overseas market operated splendidly, representing Faraday's successful overseas marketing strategies and deployment, 14% growth overall, among which nearly 100% growth in China market. On application perspective, apart from the remarkable growth in communication and consumer electronic products, some niche applications in emerging markets are notable as well.

Looking into the future, Faraday is undertaking more precise cost control and consolidation of finance and operation constitution. In terms of technical and marketing expansion, notably, the proportion of SoC from Faraday ASIC shipment rises yearly, mainly contributed by Faraday's continuous endeavors to competitive CPU, high- speed I/O and design platforms. For high-speed IO, USB3.0 solution is expected to be launched in the lead by Q2 2009.

Summary of Operating Results

Operating Results

Financial Tables

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About Faraday

Faraday Technology Corporation is a leading silicon IP and fabless ASIC vendor. The company's broad IP portfolio includes Cell Library、Memory Compiler、 ARM -compliant CPUs、DDR-2、MPEG-4、H.264、USB 2.0、USB3.0、10/100 Ethernet、Serial ATA and PCI Express.  With 2008 revenue of US$ 149 million, Faraday is one of the largest fabless ASIC companies in the Asia-Pacific region, and it also has a significant presence in other world-wide market.  Headquartered in Taiwan, Faraday has service and support offices around the world, including the U.S., Japan, Europe, and China. For more information, please visit: www.faraday-tech.com.

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