NEWS

Parade Technologies Reports Third Quarter 2016 Financial Results

Posted November 3rd, 2016

Financial Highlights:

  • Q316 consolidated revenue US$65.86 million, compared with US$60.82 million in the year-ago quarter
  • Q316 consolidated net income US$9.56 million; Basic and Fully diluted after-tax EPS US$0.13 (NT$4.03) and US$0.12 (NT$3.94), respectively

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

Consolidated revenue was US$65.86 million and consolidated net income was US$9.56 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.13 (NT$4.03) and US$0.12 (NT$3.94), respectively. These results compared to consolidated revenue US$60.82 million and consolidated net income of US$10.04 million, or US$0.13 (NT$4.28) and US$0.13 (NT$4.22) per basic and fully diluted share, in the year-ago quarter.

In US dollars, the third quarter of 2016 consolidated revenue decreased 4.25% sequentially and was up 8.30% year-over-year.

The gross profit in the third quarter of 2016 was US$27.65 million, representing a decrease of 1.83% from the previous quarter and an increase of 13.64% compared to the same quarter of last year.

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

  • Revenue: US$70 ~77 Million
  • Gross Margin: 40% ~43%
  • Operating Expense: US$16.75 ~17.75 Million

In September 2016, Parade announced industry’s first DisplayPort 1.4 jitter cleaning and demux devices, PS8460 and PS8468 respectively. The PS8460 is single-channel, Dual-Mode DP 1.4 jitter cleaning repeater, and the PS8468 includes a de-mux enabling the selection between two displays for a single video source. Both the PS8460 and PS8468 provide Dual-Mode DisplayPort support, meaning they pass-through and jitter clean both a native DisplayPort signal as well as an HDMI signal. The devices are also designed to be used in USB Type-C interfaces to process the DisplayPort Alt Mode signaling used to support video transport.

In October 2016, Parade also announced the first integrated capacitive touchscreen controller and display driver solution for smartphone FHD in-cell displays. The TC3300 combines Parade’s broad portfolio of patented touchscreen technology, as well as proven display processing and high-speed signal technology, to provide best-in-class performance such as superior noise immunity, wet finger tracking and robust system ESD for smartphone FHD (1080 RGB x 1920) LTPS in-cell displays. The TC3300 also provides accurate touch response for a wide range of finger sizes and gloved touches across various materials and thicknesses.

The financial figures detailed above for the third 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, touch controller 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.