Parade Technologies Reports Second Quarter 2021 Financial Results
Posted August 3rd, 2021
- Q221 consolidated revenue US$175.25 million, compared with US$121.54 million in the year-ago quarter
- Q221 consolidated net income US$45.07 million; Basic and Fully diluted after-tax EPS US$0.57 (NT$15.98) and US$0.56 (NT$15.62), respectively
Parade Technologies, Ltd. today announced its financial results for the second quarter fiscal year 2021 ended June 30, 2021, and provided guidance for the third quarter of fiscal year 2021.
Consolidated revenue was US$175.25 million and consolidated net income was US$45.07 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.57 (NT$15.98) and US$0.56 (NT$15.62), respectively. These results compared to consolidated revenue US$121.54 million and consolidated net income of US$28.22 million, or US$0.36 (NT$10.81) and US$0.35 (NT$10.54) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the second quarter of 2021 consolidated revenue increased 14.47% sequentially and was up 44.19% year-over-year.
The gross profit in the second quarter of 2021 was US$83.49 million, representing an increase of 21.00% from the previous quarter and an increase of 55.17% compared to the same quarter of last year.
On June 15, 2021, Parade announced the TC3400 and TC3402, the world’s first highly integrated eDP timing controller (Tcon) devices with embedded source drivers and touchscreen controller (tTED) for the notebook LTPS (Low-Temperature Polysilicon) and Oxide in-cell LCD panel markets. Both devices target the latest notebook platforms by Intel and others by supporting Embedded Display Port (eDP) 1.4b with features such as Multi-SST Operation (MSO) operation and Panel Self-Refresh (PSR). The TC3400 device supports TrueTouch in-cell capacitive touch and active stylus functionality for commercial notebook applications, while the TC3402 provides a robust TrueTouch touch only solution for mainstream notebooks. The TC3400 combines Parade’s broad portfolio of patented display and touchscreen technology as well as proven display processing and high-speed signal technology to provide a low-power, highly integrated display and touchscreen solution for notebook in-cell displays.
On June 21, 2021, Parade announced the availability of its PS8461 retimer device in an automotive grade, the PS8461V. Using a retimer function, the PS8461V provides jitter cleaning of a DisplayPort™ video transport to increase signal reach, improve data reliability, and increased resilience to crosstalk and other electrical interference. The PS8461V is AEC-Q100 grade 2 certified with a -40° to 105°C operating temperature range. The PS8461V is one example of a high-performance, consumer-oriented display product that Parade is making available for the automotive industry, and we plan to continue the roll-out of such automotive grade product options.
On August 3, 2021, Parade announced the availability of the PS195 and PS196 DisplayPort™ 2.0 to HDMI™ 2.1 protocol converters for computer system motherboards, docking stations, and protocol converter dongle applications. The PS195 and PS196 products are fully compliant with the VESA® DisplayPort v2.0 and HDMI™ v2.1 specifications. The DP receiver supports up to 4 lanes at the HBR3 (8.1Gbps) link rate and supports optional DSC compression, both in decoding of the DP input or pass-through to the HDMI output. The HDMI output supports up to 4 lanes of FRL at 12Gbps data rate per lane, enabling display resolutions up to 10K when using DSC pass-through. The HDMI output also provides backward compatible with HDMI 2.0 and earlier versions, providing TMDS™ signaling up to 6.0 Gbps. Parade’s PS195 and PS196 DP 2.0 to HDMI 2.1 protocol converters offer the best power performance available on the market. The very low power consumption during standby and low power states greatly benefits portable system battery life.
Based on current business outlook, Parade is providing the following guidance for the third quarter of fiscal 2021:
- Revenue: US$176.5 ~194.5 Million
- Gross Margin: 44% ~48%
- Operating Expense: US$32.5 ~35.5 Million
The financial figures detailed above for the second quarter of 2021 have been audited 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.