Parade Technologies Reports Third Quarter 2014 Results
Posted October 30th, 2014
Financial Highlights:
- Consolidated revenue US$58.98 million, compared with US$39.24 million in the year-ago quarter
- Consolidated net income US$12.72 million; Basic and Fully diluted after-tax EPS US$0.17 (NT$5.13) and US$0.17 (NT$5.03), respectively
Parade Technologies, Ltd. today announced financial results for the third quarter fiscal 2014, ended September 30, 2014. Consolidated revenue was US$58.98 million and consolidated net income was US$12.72 million. The Company reported basic and fully diluted after-tax earnings per share (“EPS”) of US$0.17 (NT$5.13) and US$0.17 (NT$5.03), respectively. These results compared to consolidated revenue US$39.24 million and consolidated net income of US$5.83 million, or US$0.08 (NT$2.34) and US$0.08 (NT$2.28) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the third quarter of 2014 consolidated revenue increased 25.89% sequentially and was up 50.29% year-over-year. The third quarter consolidated net income increased 37.86% sequentially and was up 118.33% from the year-ago quarter.
The gross profit in the third quarter of 2014 was US$24.58 million, representing an increase of 26.52% from the previous quarter and an increase of 46.10% compared to the same quarter last year.
Based on current business outlook, Parade is providing the following guidance for the fourth quarter fiscal 2014:
Revenue: US$52.5 ~57.5 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$10.25 ~11.25 Million
In October 2014, Parade announced two new products – DP667 and PS8409. The DP667, an eDP Tcon (Timing Controller) device for 4K LCD panels designed for computer monitor and all-in-one applications, is the first Tcon that supports the use of the standard DisplayPort SST (Single Stream Transport) protocol for 4K resolution. The PS8409 is the first HDMI 2.0 repeater with jitter-cleaning capability which supports 6 Gbit/sec Data Rate for 4K Video Source and Display Applications.
The financial figures detailed above for the third quarter fiscal 2014 have been reviewed by independent accountants.
About Parade Technologies, Ltd.
Parade Technologies, Ltd. (GTSM: 4966) is a leading fabless supplier of mixed-signal ICs for a variety of popular display and high-speed interface standards used in computers, consumer electronics and display panels. Parade’s portfolio of IC products serves the growing demand for DisplayPort™, eDP™ (Embedded DisplayPort), HDMI™, MHL®, SATA, and USB ICs for display, storage and interface applications.
Parade leverages its close relationships with market-leading Tier-1 OEMs to develop ICs that provide unique system capabilities. Many of the company’s devices integrate proprietary technologies that offer superior system signal integrity, advanced system integration and enhanced power efficiency. As a result of the company’s “Standard-plus” design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.