Chip packager Siliconware Precision Industries (SPIL) has announced net profits of NT$1.49 billion (US$48 million) for the third quarter of 2010, down 41.8% from a year earlier. Net sales for the quarter slid 6.7% on year to NT$16.3 billion, which came in below expectations.

On a sequential basis, SPIL's third-quarter net profits decreased 1.3% from the prior quarter's NT$1.51 billion, while consolidated revenues were almost flat compared to the NT$16.39 billion posted in the second quarter, according to data released by the company.

Revenues from PC-related products accounted for 15% of SPIL's overall sales in the third quarter, down 2pp from the second quarter. Communications and consumer electronics products took up 51% and 20% of SPIL's third-quarter sales, respectively, with the former up 1pp on quarter and the latter staying flat. The remainder came from memory products.

SPIL's gross margin dropped to 14.2% in the third quarter, down 2.7pp sequentially and 9pp on year.

SPIL posted NT$135 million in exchange losses for the third quarter, mainly due to depreciation of its US dollar-denominated assets as a result of the strengthening NT dollar.