Parade Technologies Reports Second Quarter 2014 Results
Posted July 31st, 2014
Financial Highlights:
- Consolidated revenue US$46.8 million, compared with US$27.2 million in the year-ago quarter
- Consolidated net income US$9.2 million; Basic and Fully diluted after-tax EPS US$0.13 (NT$3.75) and US$0.12 (NT$3.68), respectively
Parade Technologies, Ltd. today announced financial results for the second quarter fiscal 2014, ended June 30, 2014. Consolidated revenue was US$46.8 million and consolidated net income was US$9.2 million. The Company reported basic and fully diluted after-tax earnings per share (“EPS”) of US$0.13 (NT$3.75) and US$0.12 (NT$3.68), respectively. These results compared to consolidated revenue US$27.2 million and consolidated net income of US$4.0 million, or US$0.06 (NT$1.62) and US$0.06 (NT$1.58) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the second quarter of 2014 consolidated revenue increased 5.20% sequentially and was up 72.48% year-over-year. The second quarter consolidated net income increased 8.44% sequentially and was up 133.15% from the year-ago quarter.
The gross profit in the second quarter of 2014 was US$19.4 million, representing an increase of 5.17% from the previous quarter and an increase of 52.52% compared to the same quarter last year.
Based on current business outlook, Parade is providing the following guidance for the third quarter fiscal 2014:
- Revenue: US$57.5 ~62.5 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$10.25 ~11.25 Million
In July 2014, Parade announced a new series of eDP Tcon devices that feature Panel Self Refresh (PSR) and support LCD display resolutions up to 2560×1700. These new devices, which include the DP661A, DP662 and DP663, were developed for 2015 mobile device platforms with emphasis on low power consumption for extending battery life.
The financial figures detailed above for the second 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.