According to the firm, net profit for the quarter was $7.9 million, compared to $4.9 million in the same quarter last year.
Furthermore, quarterly revenues grew to $98.5 million from the prior year's $61.1 million.
In other news, Taiwan Semiconductor Manufacturing, the world's largest contract manufacturer of chips, has reported first-quarter profits that beat analysts' estimates.
As demand for smartphones and tablets drove sales of pricier chips, the firm's net income climbed eight per cent from a year earlier to $1.3 billion.
"Smartphone demand is generally good, and TSMC's strong pricing indicates they're getting a good portion of that," remarked Randy Abrams, who rates the stock "outperform" at Credit Suisse Group AG in Taipei.
Posted by Simon Jones
