Hi-P

Hi-P: reported 2Q10 results. Recorded profit of $12.4m on revenue of $181.5m, vs loss in last qtr, as gross profit surged 334% qoq on the back of strong demand from key customers RIM and Apple. Yoy, profit slipped 22%, due to a lower margin product mix

Taking into account the robust demand from the smart phone industry, mgt expects ramp up of new projects to be on schedule in 3Q10, and guides for further improvement in revenue and profit for rest of 2010. Hi-P to provide more details at its analyst conference today.