Parade Technologies Reports First Quarter 2015 Financial Results

Posted May 6th, 2015

Financial Highlights:

  • Q115 consolidated revenue US$48.16 million, compared with US$44.53 million in the year-ago quarter
  • Q115 Consolidated net income US$8.10 million; Basic and Fully diluted after-tax EPS US$0.11 (NT$3.42) and US$0.11 (NT$3.36), respectively

Parade Technologies, Ltd. today announced financial results for the first quarter fiscal 2015 ended March 31, 2015, and provided guidance for the second quarter of fiscal year 2015.

Consolidated revenue was US$48.16 million and consolidated net income was US$8.10 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.11 (NT$3.42) and US$0.11 (NT$3.36), respectively. These results compared to consolidated revenue US$44.53 million and consolidated net income of US$8.51 million, or US$0.11 (NT$3.47) and US$0.11 (NT$3.41) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the first quarter consolidated revenue decreased 12.50% sequentially and was up 8.14% year-over-year.

The gross profit in the first quarter of 2015 was US$19.42 million, representing a decrease of 12.88% from the previous quarter and an increase of 5.13% compared to the same quarter last year.

Based on current business outlook, Parade is providing the following guidance for the second quarter of fiscal 2015:

  • Revenue: US$48 ~52 Million
  • Gross Margin: 40% ~43%
  • Operating Expense: US$10 ~11 Million

In March 2015, Parade announced a new USB Type-C port configuration switch PS8742 for devices that include the DisplayPort Alt Mode Sink function. The new PS8742 enables USB Type-C port configurations compliant with the USB Type-C and DisplayPort Alt Mode over USB Type-C standards. In addition to the high-speed signal configuration switch, the new PS8742 Type-C Redriving Switch integrates signal redriver circuitry to avoid the signal loss associated with commonly used passive switching solutions. The redriving circuitry also overcomes losses from internal system PCB traces and external interconnect cable.

The financial figures detailed above for the first quarter of 2015 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.