Parade Technologies Reports Third Quarter 2013 Results

Posted November 21st, 2013

Parade Technologies Reports Third Quarter 2013 Results

 Financial Highlights:

  • 3Q13 consolidated revenue US$39.2 million, up 44.49% from previous quarter
  • 3Q13 consolidated net income US$5.8 million; Basic and Fully diluted after-tax EPS US$0.08 (NT$2.34) and US$0.08 (NT$2.28), respectively

Parade Technologies, Ltd. today announced its financial results for the third quarter of 2013. Consolidated revenue was US$39.2 million and consolidated net income was US$5.8 million for the third quarter ended September 30, 2013. It also reported that its basic and fully diluted after-tax earnings per share (“EPS”) were US$0.08 (NT$2.34) and US$0.08 (NT$2.28), respectively, after taking stock dividend distribution into consideration for the third quarter of 2013. Without considering stock dividend distribution of 21.3 million shares in the third quarter of 2013, the basic and fully diluted outstanding shares would have been 53.0 million and 55.0 million shares. The basic and fully diluted after-tax EPS before stock dividend distribution would be US$0.11(NT$3.28) and US$0.11(NT$3.16), respectively.

Quarter-over-quarter, in US dollars, consolidated revenue in the third quarter of 2013 increased 44.49% and consolidated net income increased 47.22%. As compared to the same period of 2012, third quarter results represented a decrease of 18.50% in consolidated revenue and a decrease of 56.72% in consolidated net income.

The gross profit in the third quarter of 2013 was US$16.8 million, an increase of 32.08% from the previous quarter, and a decrease of 32.23% as compared to the same quarter of last year.

Based on the current business outlook, management anticipates overall performance for the fourth quarter of 2013 to be as follows:

  • Revenue: US$46 ~50 Million
  • Gross Margin: 40.5% ~43.5%
  • Operating Expense: US$9.5 ~10.5 Million

The financial figures detailed above for the third quarter of 2013 have been reviewed by the Company’s 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.