Parade Technologies Reports Third Quarter 2023 Financial Results
Posted November 1st, 2023
- Q323 consolidated revenue US$116.96 million, compared with US$151.04 million in the year-ago quarter
- Q323 consolidated net income US$19.32 million; Basic and Fully diluted after-tax EPS US$0.24 (NT$7.71) and US$0.24 (NT$7.68), respectively
Parade Technologies, Ltd. today announced its financial results for the third quarter fiscal year 2023 ended September 30, 2023, and provided guidance for the fourth quarter of fiscal year 2023.
Consolidated revenue was US$116.96 million and consolidated net income was US$19.32 million. Basic and fully diluted after-tax earnings per share (“EPS”) were US$0.24 (NT$7.71) and US$0.24 (NT$7.68), respectively. These results compared to consolidated revenue US$151.04 million and consolidated net income of US$32.64 million, or US$0.41 (NT$12.38) and US$0.40 (NT$12.21) per basic and fully diluted share, in the year-ago quarter.
In US dollars, the third quarter of 2023 consolidated revenue increased 12.27% sequentially and was down 22.57% year-over-year.
The gross profit in the third quarter of 2023 was US$51.17 million, representing an increase of 11.74% from the previous quarter and a decrease of 25.15% compared to the same quarter of last year.
On August 30, 2023, Parade announced the availability of the PS8580/ PS8580V/ PS8581 PCIe5 32Gbps linear redriver/2×2 cross switch family. PS8580 and PS8580V integrate a quad-channel unidirectional linear redriver with a 2×2 cross switch while PS8581 features a linear redriver only. PS8580/PS8581 are designed for notebook/desktop PC, server/datacenter and industrial applications while PS8580V supports automotive AEC-Q100 grade 2 requirements. Multiple PS858x devices support x4, x8 or x16 bidirectional link. PS858x family is compliant with PCIe5 specification.
On October 18, 2023, Parade announced the availability of its new high-resolution, automotive-grade PS8627V DisplayPort™ to LVDS protocol converter. The PS8627V is used to convert a DisplayPort™ (DP) or eDP™ (Embedded DisplayPort) video transport stream to the LVDS (Low-Voltage Differential Signaling) interface used by automotive-grade display panels or display assemblies. The PS8627V enables ultrawide display up to 7680×1260@60Hz with 30bpp color depth. The PS8627V features a DP/eDP input of up to 4 lanes and LVDS output of up to 6 ports. Enabling a native DP/eDP connection between an automotive Video Control Unit (VCU) and display assembly can simplify system design and lower implementation cost by eliminating the need for a SERDES (serializer-deserializer) for the audio/video transport channel.
Based on current business outlook, Parade is providing the following guidance for the fourth quarter of fiscal 2023:
- Revenue: US$110.0 ~122.0 Million
- Gross Margin: 43% ~47%
- Operating Expense: US$30.0 ~33.0 Million
The financial figures detailed above for the third quarter of 2023 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.