Parade Technologies Reports Third Quarter 2018 Financial Results
Posted November 1st, 2018
- Q318 consolidated revenue US$85.58 million, compared with US$90.62 million in the year-ago quarter
- Q318 consolidated net income US$16.48 million; Basic and Fully diluted after-tax EPS US$0.21 (NT$6.57) and US$0.21 (NT$6.33), respectively
Parade Technologies, Ltd. today announced its financial results for the third quarter fiscal year 2018 ended September 30, 2018, and provided guidance for the fourth quarter of fiscal year 2018.
Consolidated revenue was US$85.58 million and consolidated net income was US$16.48 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.21 (NT$6.57) and US$0.21 (NT$6.33), respectively. These results compared to consolidated revenue US$90.62 million and consolidated net income of US$22.29 million, or US$0.29 (NT$8.89) and US$0.28 (NT$8.55) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the third quarter of 2018 consolidated revenue increased 13.09% sequentially and was down 5.57% year-over-year.
The gross profit in the third quarter of 2018 was US$35.88 million, representing an increase of 15.56% from the previous quarter and a decrease of 3.66% compared to the same quarter of last year.
On August 29, 2018, Parade announced the PS8818, a USB Type-C 10 Gigabits/sec retimer that supports both USB 3.1 Gen 2 and DisplayPort 1.4a Alternate Mode. The PS8818 is designed to drive the USB Type-C receptacle on a USB host system that supports USB 3.1 up to the Gen 2 data rate (10 Gigabits/sec) and DisplayPort Alt Mode, as a video source, up to HBR3 (8.1 Gigabits/sec link rate). The PS8818 serves as a high-speed signal repeater, restoring signal integrity for either the USB or DisplayPort signals. The PS8818 complements Parade’s existing family of USB Type-C port configuration switches that also include the repeater function.
On September 18, 2018, Parade introduced the TrueTouch® TC3315, an integrated display driver and touchscreen controller solution. The TC3315 combines Parade’s broad portfolio of patented touchscreen technology, as well as proven display processing and high-speed signal interface technology, to provide best-in-class performance for smartphone FHD / FHD+ LTPS in-cell displays. Fabricated on advanced 55nm process technology, the TC3315 exhibits 29% lower power than the competing devices and is supported with ample wafer fab capacity.
Based on current business outlook, Parade is providing the following guidance for the fourth quarter of fiscal 2018:
- Revenue: US$94 ~104 Million
- Gross Margin: 40% ~43%
- Operating Expense: US$19.00 ~20.00 Million
The financial figures detailed above for the third quarter of 2018 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.