TAOYUAN, TAIWAN – Ichia Technologies reported first quarter consolidated revenue down 20% year-over-year to NT$1.13 billion (US$37.5 million). Pretax income was NT$14.2 million.

Production was disrupted by the Covid-19 pandemic.

The flex PCB maker expects a better second quarter, as customers have begun replenishing inventories. The company expects revenue and earnings to increase sequentially in 2020 thanks to steady orders and improving production.

Ed.: NT$1 = US$0.033