Operating profit was $270 million and gross margin was 45.7%.
For Q3, Renesas expects the same level of sales and margin. .
“We have been successfully improving our gross and operating margins by pursuing sales growth and cost containment”, says Renesas CEO Bunsei Kure, “our second quarter semiconductor sales increased by 31.7% year on year mainly driven by strong demand for our products in the automotive and industrial markets. The growth is also attributed to the integration of Intersil and the dissipation of the impact from the Kumamoto earthquake that occurred in the same period a year ago. We expect to achieve traction in semiconductor sales and gross/operating margins during the coming quarter on a year-on-year basis.”
Following the completion of the acquisition of Intersil in February 2017, Renesas integrated Intersil into its operations and reformed its business organization into three business units.: “Automotive,” “Industrial” and “Broad-based.”