-- Renesas Electronics' (TYO:6723) profit attributable to owners of the parent soared 162% to 68.1 billion yen for the first quarter from over 26 billion yen a year earlier.
The semiconductor manufacturer's earnings per share increased to 36.96 yen from 14.30 yen a year ago, according to a Tokyo bourse filing on Friday.
Revenue jumped 23% to 380.3 billion yen for the three months ended March 31 from 308.8 billion yen in the prior-year period.
In a separate filing, Renesas set the forecasts for the six months ending June 30, with an expected non-GAAP revenue of 752.8 billion to 767.8 billion yen, a non-GAAP gross margin of 58.1% and a non-GAAP operating margin of 31.3%.
Renesas does not plan to pay any dividends for the year.
Due to short-term volatility in the semiconductor market, Renesas provides its consolidated forecasts quarterly as a range rather than a full-year figure, as high accuracy is difficult to achieve.
The company uses non-GAAP metrics, excluding non-recurring items, with margin forecasts based on the midpoint of the revenue range to clarify ongoing performance.