Parade Technologies Reports First Quarter 2013 Results
Posted May 8th, 2013
- 1Q13 consolidated revenue US$20.9 million, down 33.96% from previous quarter
- 1Q13 consolidated net income US$1.7 million; Basic and Fully diluted after-tax EPS US$0.03 (NT$0.95) and US$0.03 (NT$0.91), respectively
Parade Technologies, Ltd. today announced financial results for the first quarter of 2013. Consolidated revenue was US$20.9 million and consolidated net income was US$1.7 million for the first quarter ended March 31, 2013. It also reported that its basic and fully diluted after-tax earnings per share (“EPS”) were US$0.03 (NT$0.95) and US$0.03 (NT$0.91), respectively.
Quarter-over-quarter, in US dollars, consolidated revenue in the first quarter of 2013 decreased 33.96% and consolidated net income decreased 78.02%. As compared to the same period of 2012, first quarter results represented a decrease of 41.12% in consolidated revenue and a decrease of 81.36% in consolidated net income.
The gross profit in the first quarter of 2013 was US$9.7 million, a decrease of 38.04% from the previous quarter, and a decrease of 47.40% as compared to the same quarter of last year.
Based on the current business outlook, management anticipates overall performance for the second quarter of 2013 to be as follows:
- Revenue: US$24 ~27 Million
- Gross Margin: 44.5% ~47.5%
- Operating Expense: US$8 ~9 Million
The above financial figures for the first 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 “standards-plus” design philosophy, Parade ICs have been designed into products offered by nearly every leading computer and display vendor worldwide.