Parade Technologies Reports Second Quarter 2015 Financial Results

Posted July 29th, 2015

Financial Highlights:

  • Q215 consolidated revenue US$49.30 million, compared with US$46.85 million in the year-ago quarter
  • Q215 Consolidated net income US$8.78 million; Basic and Fully diluted after-tax EPS US$0.12 (NT$3.63) and US$0.12 (NT$3.56), respectively

Parade Technologies, Ltd. today announced financial results for the second quarter fiscal 2015 ended June 30, 2015, and provided guidance for the third quarter of fiscal year 2015 that is excluding any financial estimation from the Cypress’s TrueTouch mobile business acquisition. The Cypress’s TrueTouch mobile business acquisition is expected to close during the third quarter of 2015.

Consolidated revenue was US$49.30 million and consolidated net income was US$8.78 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.12 (NT$3.63) and US$0.12 (NT$3.56), respectively. These results compared to consolidated revenue US$46.85 million and consolidated net income of US$9.23 million, or US$0.13 (NT$3.75) and US$0.12 (NT$3.68) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the second quarter consolidated revenue increased 2.39% sequentially and was up 5.24% year-over-year.

The gross profit in the second quarter of 2015 was US$20.34 million, representing an increase of 4.75% from the previous quarter and an increase of 4.70% compared to the same quarter of last year.

Based on current business outlook excluding Cypress’s TrueTouch mobile business acquisition, Parade is providing the following guidance for the third quarter of fiscal 2015:

  • Revenue: US$47.5 ~54.5 Million
  • Gross Margin: 40% ~43%
  • Operating Expense: US$11 ~12 Million

The financial figures detailed above for the second 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.