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Orders for miniLED test equipment clear till September, says FitTech chairman

FitTech has received significant orders for equipment for probing, testing and sorting miniLED used in backlighting, with shipments scheduled until September 2021, according to company chairman Hsu Chiu-tien.

Chinese and Taiwanese LED makers have been expanding production capacityh for miniLEDs, Hsu said, adding FitTech expects the revenue proportion for miniLED probing, testing and sorting equipment to rise from 20-30% in 2020 to 40-50% in 2021, Hsu noted.

FitTech has reported consolidated revenues of NT$406.4 million (US$14.3 million) for March, increasing 1.81% sequentially and 40.21% on year, and those of NT$1.184 billion for first-quarter 2021 grew 34.83% sequentially and 32.85% on year.

Probing, testing and sorting equipment for LED and miniLED accounted for 75.25% of the first-quarter 2021 revenues; laser processing and laser diode testing equipment took up 4.46%; and outsourced services for probing, testing and sorting LED, miniLED, GaN chips, VCSEL and other equipment reached 20.28%.

FitTech is also developing equipment for miniLED used in making RGB fine-pitch mini LED displays, and the development is expected to take 2-3 years in overcoming technological bottlenecks, Hsu explained.

FitTech posted consolidated revenues of NT$3.160 billion, gross margin of 34.00%, operating profit of NT$439.7 million and net profit of NT$342.8 million for 2020, and will distribute a cash dividend per share of NT$4.00 for the year.