Leading Taiwanese LED manufacturers Epistar and Everlight reported declining revenues in February 2015, according to a report from CNA.

Everlight reported revenues declined 13.28% Month-on-Month to NT $2.20 billion in February. The company’s revenue, however, was up 16.8% in 2015 compared to a year earlier. The company’s total revenue increased 18.76% Year-on-Year (YoY) from January to February to reach NT $4.74 billion.

Everlight’s diminished revenues was caused by fewer workdays in February, due to the Chinese Lunar New Year holidays and 228 Peace Memorial Day. However, the company expects revenues to rebound in March, and financial institutes also estimate better revenues this month.

LED chip maker Epistar reported its revenue fell 22.83% in February compared to a month earlier to NT $1.86 billion. Compared to the same period in 2014, the company’s revenue was down 9.04%. The company also attributed to the revenue drop to shorter work days in February, but projects growth momentum to spring back in March.

Emergency orders in January pushed up Epistar’s revenue by 20% that month, and the company has stocked up epiwafers in February to meet March demands. The company’s utilization rates are estimated to rebound to above 70% in March.