Parade Technologies Reports Second Quarter 2016 Financial Results

Posted July 28th, 2016

Financial Highlights:

  • Q216 consolidated revenue US$68.78 million, compared with US$49.30 million in the year-ago quarter
  • Q216 consolidated net income US$10.77 million; Basic and Fully diluted after-tax EPS US$0.14 (NT$4.66) and US$0.14 (NT$4.56), respectively

Parade Technologies, Ltd. today announced financial results for the second quarter fiscal 2016 ended June 30, 2016, and provided guidance for the third quarter of fiscal year 2016.

Consolidated revenue was US$68.78 million and consolidated net income was US$10.77 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.14 (NT$4.66) and US$0.14 (NT$4.56), respectively. These results compared to consolidated revenue US$49.30 million and consolidated net income of US$8.78 million, or US$0.12 (NT$3.63) and US$0.12 (NT$3.56) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the second quarter of 2016 consolidated revenue decreased 2.62% sequentially and was up 39.51% year-over-year.

The gross profit in the second quarter of 2016 was US$28.16 million, representing a decrease of 3.07% from the previous quarter and an increase of 38.44% compared to the same quarter of last year.

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

  • Revenue: US$63 ~69 Million
  • Gross Margin: 41% ~44%
  • Operating Expense: US$16.5 ~17.5 Million

In May 2016, Parade announced a new 2-lane 8Gb/s PCIe and SATA redriver. The PS8559 cleans up and re-transmits the PCIe or SATA signal, both increasing data transmission reliability and enabling system design flexibility. By supporting PCIe and SATA, the PS8559 is ideal for the SATA Express interface which utilizes both of these interface standards and is used for PC storage devices. The support of two PCIe lanes also makes the PS8559 well suited for the newer M.2 interface used in PCs and laptops. Other applications for the PS8559 include server-class PCIe SSD and PCIe cabling.

In June 2016, Parade also announced a new 16-Channel 8Gb/s PCIe redriver. The PS8566 removes signal distortion that results when sending high speed data over an electrical interface. The PS8566 integrates 16 independent redriver channels with low power consumption. The support of a 16-Channel bus width makes it ideal for workstations and data center applications including storage and servers.
The financial figures detailed above for the second quarter of 2016 have been reviewed by independent accountants.

About Parade Technologies, Ltd.

Parade Technologies, Ltd. (Stock Code: 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®, SATA, PCI Express and USB ICs for display, touch, 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.