Memory backend service company Powertech Technology (PTI) has reported net profits of NT$771 million (US$25.08 million) for the first quarter of 2015, down 1.8% sequentially but up 29.1% on year.

The earnings translated into an EPS of NT$1.01 for the quarter compared to NT$1.03 a quarter earlier.

Revenues for the first quarter reached NT$9.43 billion, down 3.3% on quarter but up 2.2% on year. Gross margin stood at 17.7% in the first quarter compared to 16.2% a quarter earlier and 14.5% of a year earlier.

Backend services for DRAM chips accounted for 30% its total revenues in the first quarter, NAND flash chips 40% and logic ICs 30%, according to company president Hung Jia-yu.

PTI expects its gross margin to further improve in the second quarter thanks to rising demand for high-end, high-density DRAM and NAND flash chips, Hung said during the company's latest online investors conference.