Parade Technologies Reports Third Quarter 2020 Financial Results
Posted October 29th, 2020
- Q320 consolidated revenue US$150.15 million, compared with US$101.45 million in the year-ago quarter
- Q320 consolidated net income US$36.75 million; Basic and Fully diluted after-tax EPS US$0.47 (NT$13.80) and US$0.46 (NT$13.52), respectively
Parade Technologies, Ltd. today announced its financial results for the third quarter fiscal year 2020 ended September 30, 2020, and provided guidance for the fourth quarter of fiscal year 2020.
Consolidated revenue was US$150.15 million and consolidated net income was US$36.75 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.47 (NT$13.80) and US$0.46 (NT$13.52), respectively. These results compared to consolidated revenue US$101.45 million and consolidated net income of US$21.87 million, or US$0.28 (NT$8.86) and US$0.28 (NT$8.67) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the third quarter of 2020 consolidated revenue increased 23.53% sequentially and was up 48.00% year-over-year.
The gross profit in the third quarter of 2020 was US$66.07 million, representing an increase of 22.80% from the previous quarter and an increase of 51.67% compared to the same quarter of last year.
On August 13, 2020, Parade announced the mass production of the PS8926 PCI Express Gen 4 retimer for enterprise system deployment. This integrated device has completed rigorous testing and validation in enterprise-level network and storage systems now entering production. The PS8926 supports up to 16 bi-directional PCI Express Gen 4 lanes using 32 high-speed data channels operating at 16 Gbps. Parade’s PCI Express Gen 4 family of retimer devices, including the PS8925, PS8926, and PS8926A, all support Parade’s exclusive PABR (Protocol Aware Bit-level Retimer) mode that reduces latency to 2 nsec, well below the typical 43 nsec expected for a spec-compliant PCI Express Gen 4 retimer, increasing data throughput and greatly reducing memory access time.
Based on current business outlook, Parade is providing the following guidance for the fourth quarter of fiscal 2020:
- Revenue: US$135 ~149 Million
- Gross Margin: 41.5% ~44.5%
- Operating Expense: US$27.0 ~28.0 Million
The financial figures detailed above for the third quarter of 2020 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.