Fitipower Integrated Technology Inc. Reports First-Quarter Consolidated
Results at the analyst meeting.
1Q23 consolidated revenue of NT$3,936 million,down 4.68% from previous quarter and 33.96% year-over-year
1Q23 consolidated gross margin of 30.48%, up 3.69 percentage points from previous quarter, and down 14.71 percentage points year-over-year
1Q23 consolidated operating income of NT$491 million, up 48.56% from previous quarter, and down 74.58 % year-over-year
1Q23 consolidated net income of NT$436 million; EPS of NT$2.26
Consolidated Revenue
Fitipower Integrated Technology Inc. today announced financial results of first-quarter ended Mar 31, 2023. The first-quarter revenue was
NT$3,936 million, down 4.68% sequentially and 33.96% year-over-year.
The quarter-over-quarter and the year-over-year decreases were mainly due to each-sized driver IC and power IC products with lower demand.
Consolidated Gross Profit and Gross Margin
The first-quarter gross profit was NT$1,199 million, up 8.44% sequentially, and down 55.46% year-over-year.
Gross margin for the quarter was 30.48%, up 3.69 percentage points sequentially, and down 14.71 percentage points year-over-year.
The quarter-over-quarter and the year-over-year changes in gross margin were mainly due to the product mix was different.
Consolidated Net Income, Net Profit Margin and EPS
Net income for the quarter was NT$436 million, up 46.21% Sequentially, and down 72.87% year-over-year.
Net profit margin for the quarter was 11.08%, higher than 7.23% previous quarter, but lower than 26.98% in the year-ago quarter.
EPS was NT$2.26, up from NT$1.87 in the prior quarter, but down from NT$8.11 in the year-ago quarter.
The quarter-over-quarter increases in net income, net profit margin and EPS were mainly due to product mix changes.
The year-over-year decreases in net income, net profit margin and EPS were mainly due to lower gross margin.
