LED chipmaker Formosa Epitaxy saw its December revenues decrease by 25% sequentially, while fellow chipmaker Genesis Photonics' December revenues increased slightly by 0.5% over the same period.

Formosa's December revenues fell 25% sequentially to NT$300 million (US$10.23 million). The company indicated the decline is a short-term trend due to clients digesting inventory at year's end, and expects January revenues to return to about NT$400 million. Fourth-quarter revenues came to NT$1.1 billion, down 23% sequentially. Formosa estimates a sequential growth for the first quarter of 2011 judging by current market conditions.

Despite the negative results, the company's full-year revenues rose 121.5% from 2009 to NT$4.64 billion thanks to strong TV backlight demand. Its 2011 consolidated revenues are projected to jump to NT$7 billion, according to market watchers

Genesis has announced December revenues of NT$340 million, up slightly by 0.5% sequentially. Fourth-quarter revenues came to about NT$1 billion, up 11% sequentially thanks to strong shipments for the TV backlight segment.

Genesis is in the silent period prior to a new share issue. The company will issue 20 million new shares at NT$41 (US$14) a share to raise NT$820 million.