Fitipower Integrated Technology Inc. Reports First-Quarter Consolidated
Results at the analyst meeting.
1Q22 consolidated revenue of NT$5,961 million, down 5.3% from previous
quarter and up 48.8% year-over-year
1Q22 consolidated gross margin of 45.1%, down 2.4 percentage points from
previous quarter and up 5.9 percentage points year-over-year
1Q22 consolidated operating income of NT$1,932 million, down 2.5% from
previous quarter and up 85.5% year-over-year
1Q22 consolidated net income of NT$1,608 million; EPS of NT$8.11
Consolidated Revenue
Fitipower Integrated Technology Inc. today announced financial results of
first-quarter ended March 31, 2022. The first-quarter revenue was NT$5,961
million, down 5.3% sequentially and up 48.8% year-over-year.
The quarter-over-quarter slightly decreases was mainly due to each-sized
driver IC and power IC products with lower demand. The year-over-year
increases was mainly due to product specifications upgrade or higher
demand across major products.
Consolidated Gross Profit and Gross Margin
The first-quarter gross profit was NT$2,693 million, down 10.2%
sequentially and up 71.3% year-over-year. Gross margin for the quarter was
45.1%, down 2.4 percentage points sequentially and up 5.9 percentage points
year-over-year.
The quarter-over-quarter decreases in gross margin was mainly due to higher
cost. The year-over-year increases in gross margin was mainly due to better
product mix.
Consolidated Net Income, Net Profit Margin and EPS
Net income for the quarter was NT$1,608 million, up 7.1% sequentially and
up 82.7% year-over-year. Net profit margin for the quarter was 26.9%,
higher than 23.8% previous quarter and 21.9% in the year-ago quarter.
EPS was NT$8.11, up from NT$7.45 in the prior quarter and NT$4.78 in the
year-ago quarter. The quarter-over-quarter increases in net income ,
net profit margin and EPS were mainly due to lower expense ratio .
The year-over-year increases in net income ,net profit margin and EPS were
mainly due to higher revenue and gross margin this quarter.
