Faraday Reported 2009 First Quarter Results

First Quarter 2009 Highlights:

Year-over-year revenue decreased 19.5% to NT$928 million (US$27.3million)
Gross margin, 46.7%
Net income of NT$59 million (US$1.7 million)
Earnings per share of NT$0.17 for the quarter

Hsinchu, Taiwan – April,24 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 March 31, 2009. The first quarter revenue was NT$928 million, while net income and basic earnings per share came to NT$59 million and NT$0.17, respectively.

While the revenue percentage of IP and Design service declines compared with Q4 2008, the gross margin achieves 46.7%, which mainly benefits from the adjustment of ASIC product mix. Reviewing the revenue by areas, the growth rate in China market is remarkably up to 36%. From the application standpoint, the revenue of multimedia and display rises most significantly.

Looking into Q2, ASIC is expected to keep its growth momentum, including in the applications of communication, consumer, multimedia and display. Further, the attention-getting USB3.0 altogether proceeds on schedule in terms of technology development and its performance; the marketing promotion will also be triggered in Q2.

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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 32-bit RISC CPUs, DSPs, PHY/Controllers for USB 2.0, USB3.0, Ethernet, and Serial ATA. 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: http://www.faraday-tech.com