NAND flash device controller IC supplier Phison Electronics has reported net profits of NT$5.82 billion (US$199.2 million) for 2017 hitting a record high. EPS for the year reached NT$29.23.

Phison's board of directors has decided to distribute a NT$17 cash dividend per share for 2017.

Phison generated consolidated revenues of NT$41.87 billion in 2017, down 4.4% on year, while net profits soared 19.6% from 2016 levels.

Phison's profitability was buoyed by a rally in NAND flash prices during 2017, according to market watchers. Phison's close relationships with its upstream chip providers also enabled it to secure steady memory supplies making a further positive contribution to the company's performance in 2017, the watchers indicated.

In addition, Phison's board approved plans to issue up to 18 million new shares through private placement. Through the planned fundraising, the company is seeking strategic or technology partners while having the new funds enhance its working capital as well as develop its long-term business growth.

Phison will hold its shareholders meeting on June 8 seeking approval to commence the fundraising activity.

In other news, Phison has disclosed its SSD controllers supporting Host Memory Buffer (HMB) are being adopted by notebook vendors in their high-end devices. Phison expects sales of its SSD controllers for high-end notebooks and tablets to drive its overall revenue growth in 2018.