- Q414 consolidated revenue US$55.03 million, compared with US$54.55 million in the year-ago quarter
- Q414 Consolidated net income US$10.01 million; Basic and Fully diluted after-tax EPS US$0.13 (NT$4.12) and US$0.13 (NT$4.04), respectively
Parade Technologies, Ltd. today announced financial results for the fourth fiscal quarter and fiscal year 2014 ended December 31, 2014, and provided guidance for the first quarter of fiscal year 2015.
Consolidated revenue was US$55.03 million and consolidated net income was US$10.01 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.13 (NT$4.12) and US$0.13 (NT$4.04), respectively. These results compared to consolidated revenue US$54.55 million and consolidated net income of US$11.43 million, or US$0.15 (NT$4.56) and US$0.15 (NT$4.48) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the fourth quarter consolidated revenue decreased 6.69% sequentially and was up 0.89% year-over-year.
The gross profit in the fourth quarter of 2014 was US$22.29 million, representing a decrease of 9.32% from the previous quarter and a decrease of 0.47% compared to the same quarter last year.
The Company also reported financial results for fiscal year 2014. Consolidated revenue was US$205.39 million, representing an increase of 44.76% from US$141.89 million in the prior year. Gross margin was US$84.78 million and operating margin was US$43.64 million. Net income for fiscal year 2014 was US$40.47 million, or US$0.54 (NT$16.48) per basic share and US$0.53 (NT$16.15) per fully diluted share. These results compared with net income of US$22.88 million, or US$0.31 (NT$9.25) per basic share and US$0.30 (NT$9.02) per fully diluted share in the prior year.
Based on current business outlook, Parade is providing the following guidance for the first quarter of fiscal 2015:
- Revenue: US$45.5 ~49.5 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$10 ~11 Million
In January 2015, Parade announced a new high-speed switch integrated circuit as a solution for USB Type-C Host devices to support DisplayPort Alt Mode. The new PS8740 Type-C Redriving Switch enables USB Type-C Host Interface with SuperSpeed USB, DisplayPort Alt Mode, and Cable Flipping. The device also includes signal redriver circuitry to compensate for signal loss in the SuperSpeed USB and DisplayPort data channels due to the system PCB traces and external interconnect cable.
The financial figures detailed above for the fourth quarter of 2014 and for the year ended December 31, 2014 have not been audited or 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.