Alchip Technologies Q3 Revenue and Net Income Set Records
Gross Profit and Operating Income Also Up Year-on-Year
Taipei, Taiwan, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Alchip Technologies reported Q3 2023 revenue and net income that set all-time records for that period. The Company’s Q3 2023 revenue reached $240.6 million, up 104 percent from the previous record Q3 2022 revenue of $117.5 million. Record Q3 2023 net income of $28.1 million topped the previous record Q3 2022 net income of $14.5 million, reflecting a year-on-year increase of 93 percent. Q3 2023 earnings-per-share was reported at NT$12.03.
Despite reaching an historic third quarter high, Q3 2023 revenue, on a quarter-to-quarter basis, was down 7 percent for Q2 2023 revenue of $258.6 million. However, Q3 2023 net income was up 17.4 percent over Q2 2023 net income of $24 million.
Gross profit for Q3 2023 of $57.2 million topped Q3 2022 gross profit of $37.3 million by 53.3 percent and Q2 2023 gross profit of $55.2 million by 3.6 percent. Operating income for Q3 2023 of $32 million topped Q3 2022 income of $18.6 million by 71.6 percent and Q2 2023 operating income of $28.4 million by 12.6 percent.
Looking at revenue mix by process node, devices designed using 7nm and smaller pitch-widths, accounted for 92 percent of Q3 2023 revenue, and 88 percent of revenue for fiscal 2023 to date. High-performance computing applications drove 85 percent of Q3 2023 revenue and 83 percent of revenue for fiscal year to date.
The Company’s North America Region, accounted for the largest share of Q3 2023 revenue at 59 percent, followed by Asia Pacific at 27 percent. For fiscal year 2023, North America contributed 61 percent of revenue, with Asia Pacific accounting for 23 percent of revenue, Japan providing 7 percent, and the remainder of the world accounting for 9 percent of revenue.
Commenting on other quarterly data, management noted that profit margin rose to 24 percent in Q3 2023 from 21 percent in Q2 2023, due to a more favorable sales mix. Non-operating income of $4 million was reported for Q3 2023, owing to a strong U.S. dollar and interest income.
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About Alchip
Alchip Technologies Ltd., founded in 2003 and headquartered in Taipei, Taiwan, is a leading global provider of silicon and design and production services for system companies developing complex and high-volume ASICs and SoCs. Alchip provides faster time-to-market and cost-effective solutions for SoC design at mainstream and advanced process technology. Alchip has built its reputation as a high-performance ASIC leader through its advanced 2.5D/3D package services, CoWoS/chiplet design and manufacturing management. Customers include global leaders in AI, HPC/supercomputer, mobile phones, entertainment device, networking equipment and other electronic product categories. Alchip is listed on the Taiwan Stock Exchange (TWSE: 3661).
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Charles Byers Alchip Technologies + (408)-310-9244
