TAIPEI -- Universal Scientific Industrial reported first-quarter revenue of NT$29.4 billion ($972 million), up 18.5% from a year ago. 

Gross margin was 10.6% during the quarter, up 0.2 percentage points sequentially. Capital expenditures amounted to $3 million during the quarter.

USI's five largest customers accounted for approximately 81% of the firm's total net revenues in the quarter, with one customer accounting for more than 10%.

USI was the 13th largest EMS company in thr world in 2016, according to the latest CIRCUITS ASSEMBLY Top 50. 

USI's parent company, Advanced Semiconductor Engineering, reported unaudited net revenues of NT$66.6 billion, up 7% year-over-year and down 14% sequentially. Net income totaled NT$2.57 billion, down 33% from last year.

The firm forecast EMS business in the current period should be similar to the average of its second and third quarter 2016 levels.

Ed: NT$1 = US$0.0331078

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