Parade Technologies Reports First Quarter 2016 Financial Results
Posted April 28th, 2016
- Q116 consolidated revenue US$70.63 million, compared with US$48.16 million in the year-ago quarter
- Q116 consolidated net income US$10.79 million; Basic and Fully diluted after-tax EPS US$0.14 (NT$4.77) and US$0.14 (NT$4.68), respectively
Parade Technologies, Ltd. today announced financial results for the first quarter fiscal 2016 ended March 31, 2016, and provided guidance for the second quarter of fiscal year 2016.
Consolidated revenue was US$70.63 million and consolidated net income was US$10.79 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.14 (NT$4.77) and US$0.14 (NT$4.68), respectively. These results compared to consolidated revenue US$48.16 million and consolidated net income of US$8.10 million, or US$0.11 (NT$3.42) and US$0.11 (NT$3.36) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the first quarter of 2016 consolidated revenue increased 4.41% sequentially and was up 46.67% year-over-year.
The gross profit in the first quarter of 2016 was US$29.06 million, representing an increase of 7.35% from the previous quarter and an increase of 49.61% compared to the same quarter of last year.
Based on current business outlook, Parade is providing the following guidance for the second quarter of fiscal 2016:
- Revenue: US$66 ~72 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$16.5 ~17.5 Million
On April 21, 2016, Parade announced a collaboration with Samsung to deliver AMOLED panels for the tablet and PC notebook markets. Parade worked together with Samsung to develop the DP699 Tcon which is used exclusively in the new Samsung AMLOED panels. The DP699 supports the VESA eDP standard version 1.4b for extended battery life. Adaptive Sync is also supported for gaming optimization, as well as the MBO (Media Buffer Optimization) function for video playback. The DP699 also includes a number of proprietary Samsung features and algorithms to optimize display quality, including those for optimum color, brightness, and dimming control.
The financial figures detailed above for the first quarter of 2016 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™, USB Type-C™, 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 “Standards-plus” design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.
The following financial statement is also posted in Adobe PDF format here: http://www.paradetech.com/investor-relations/financials/quarterly-results/