Parade Technologies Reports Fourth Quarter and Fiscal 2015 Financial Results

Posted January 27th, 2016

Financial Highlights:

  • Q415 consolidated revenue US$67.65 million, compared with US$55.03 million in the year-ago quarter
  • Q415 consolidated net income US$9.12 million; Basic and Fully diluted after-tax EPS US$0.12 (NT$3.95) and US$0.12 (NT$3.89), respectively

Parade Technologies, Ltd. today announced financial results for the fourth fiscal quarter and fiscal year 2015 ended December 31, 2015, and provided guidance for the first quarter of fiscal year 2016.

Consolidated revenue was US$67.65 million and consolidated net income was US$9.12 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.12 (NT$3.95) and US$0.12 (NT$3.89), respectively. These results compared to consolidated revenue US$55.03 million and consolidated net income of US$10.01 million, or US$0.13 (NT$4.12) and US$0.13 (NT$4.04) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the fourth quarter of 2015 consolidated revenue increased 11.23% sequentially and was up 22.92% year-over-year.

The gross profit in the fourth quarter of 2015 was US$27.07 million, representing an increase of 11.25% from the previous quarter and an increase of 21.42% compared to the same quarter of last year.

The Company also reported financial results for fiscal year 2015. Consolidated revenue was US$225.93 million, representing an increase of 10.00% from US$205.39 million in the prior year. Gross profit was US$91.16 million and operating income was US$38.11 million. Net income for fiscal year 2015 was US$36.03 million, or US$0.48 (NT$15.30) per basic share and US$0.47 (NT$15.00) per fully diluted share. These results compared with net income of 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 in the prior year.

Based on current business outlook, Parade is providing the following guidance for the first quarter of fiscal 2016:

  • Revenue: US$67 ~73 Million
  • Gross Margin: 40% ~43%
  • Operating Expense: US$16.5 ~17.5 Million

On November 10, 2015, Parade announced two new device families into the TrueTouch® touchscreen controllers product line acquired from Cypress Semiconductor in August, 2015. The new TT41X and TT42X capacitive touchscreen controller families leverage the TrueTouch® patent portfolio with Parade’s mix-signal design expertise to provide best-in-class performance and use case flexibility. Both TT41X and TT42X controllers offer passive stylus, gloved-finger, and multi-wet-finger tracking features. The TT41X controllers target premium tablets, and the TT42X targets smartphones with in-cell displays.

On December 1, 2015, Parade also announced new additions to its family of USB Type-C port configuration switch devices. The PS8750 and PS8751 are port configuration switches that include high-speed signal redriver circuitry and respectively integrate the USB PD (Power Delivery) Controller and Port Controller, providing integrated USB Type-C Power Delivery support. Both devices accommodate the USB3.1 Gen 1 data rate of 5Gbps, and DisplayPort Alt Mode at link rates up to 5.4Gbps(HBR2).

The financial figures detailed above for the fourth quarter of 2015 and for the year ended December 31, 2015 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™, 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.

Investor Relations Contact:
Yo-Ming Chang