Parade Technologies Reports Second Quarter 2017 Financial Results
Posted August 2nd, 2017
Financial Highlights:
- Q217 consolidated revenue US$85.92 million, compared with US$68.78 million in the year-ago quarter
- Q217 consolidated net income US$14.83 million; Basic and Fully diluted after-tax EPS US$0.20 (NT$5.95) and US$0.19 (NT$5.74), respectively
Parade Technologies, Ltd. today announced its financial results for the second quarter fiscal year 2017 ended June 30, 2017, and provided guidance for the third quarter of fiscal year 2017.
Consolidated revenue was US$85.92 million and consolidated net income was US$14.83 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.20 (NT$5.95) and US$0.19 (NT$5.74), respectively. These results compared to consolidated revenue US$68.78 million and consolidated net income of US$10.77 million, or US$0.14 (NT$4.66) and US$0.14 (NT$4.56) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the second quarter of 2017 consolidated revenue increased 13.58% sequentially and was up 24.91% year-over-year.
The gross profit in the second quarter of 2017 was US$34.49 million, representing an increase of 13.99% from the previous quarter and an increase of 22.47% 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 2017:
- Revenue: US$83 ~91 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$17.5 ~18.5 Million
On July 27, 2017, Parade announced two new chips PS8461 and PS8469 that expand options for video transport demultiplexing/multiplexing and signal conditioning for Dual-Mode DisplayPort™ 1.4 in personal computers, workstations, and other high-resolution video device applications. The PS8461 is a multiplexing, or “mux”, chip that allows the selection between one of two dual mode DisplayPort inputs that are jitter-cleaned and repeated at the output. The PS8469 is a demultiplexing, or “demux”, chip that allows a single Dual-Mode DisplayPort 1.4 input to be outputted either as a Dual-Mode DisplayPort 1.4 output or an HDMI™ 2.0b output, each being jitter-cleaned. Both devices support DisplayPort 1.4 HBR3 8.1Gbps and HDMI 2.0b 6Gbps data rates.
The financial figures detailed above for the second quarter of 2017 have been reviewed by independent accountants.
About Parade Technologies, Ltd.
Parade Technologies, Ltd. is a leading supplier of mixed-signal ICs for a variety of popular display and high-speed interface standards used in computers, consumer electronics and display panels. The fabless semiconductor company was founded in 2005 and publicly listed on Taipei Exchange (TPEx) in 2011 (stock code: 4966). Parade’s portfolio of IC products serves the growing demand for HDMI™, DisplayPort™, SATA, and USB ICs for display, storage and interface applications.
In addition to being a technology innovator, Parade is an active participant and leader in industry standards-setting organizations. Parade Technologies, Inc., a wholly owned US-based subsidiary of Parade Technologies, Ltd., is a member of VESA (Video Electronics Standard Association). Parade Technologies, Inc. has made key contributions to the development of VESA’s DisplayPort™ digital video interface standard.
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.