IC packager Siliconware Precision Industries (SPIL) has reported net profits of NT$1.6 billion (US$49.7 million) for the first quarter of 2016, down 38.6% from a year earlier.

SPIL's net profits for first-quarter 2016 improved from losses of NT$212 million reported for the prior quarter, however. Non-operating losses ate up SPIL's operating income and put the company in the red in the fourth quarter of 2015.

SPIL generated consolidated revenues of NT$19.3 billion in the first quarter of 2016, down 7.1% sequentially and 7.2% on year. Gross margin slid to 20.6% in the first quarter from 26.2% in the prior quarter and 26.2% a year earlier.

SPIL's net profits for first-quarter 2016 translated into an EPS of NT$0.39, compared with NT$0.83 a year ago. EPS improved from negative NT$0.07 in the fourth quarter of 2015.

Sales from the communications sector contributed 66% of SPIL's net sales in the first quarter, up from 63% in the fourth quarter of 2015, while the consumer segment as a proportion of company revenues fell to 22% from 25% in the prior quarter.

Sales from SPIL's bumping and flip-chip packaging services accounted for 42% of the company's total revenues in the first quarter, down from 45% in the fourth quarter of 2015, while the substrate-based packaging segment as a proportion of company revenues climbed to 30% from 27% in the prior quarter.