Fitipower Integrated Technology Inc. providing an overview of the
Fourth-Quarter and Full-Year 2023 unaudited Consolidated Results at the
analyst meeting.
4Q23 consolidated revenue of NT$3,767 million, down11.18 % from previous
quarter and down 8.78% year-over-year
4Q23 consolidated gross margin of 33.78%, up 0.31 percentage points from
previous quarter, and up 6.99 percentage points year-over-year
4Q23 consolidated operating income of NT$581 million, down 10.60% from
previous quarter, and up 75.84 % year-over-year
4Q23 consolidated net income of NT$612 million; EPS of NT$4.43
2023 consolidated revenue down 17.25% year-over-year to NT$16,286 million
with EPS of NT$13.29
Consolidated Revenue
Fitipower Integrated Technology Inc. today providing an overview to
financial results of fourth-quarter ended Dec 31, 2023. The fourth-quarter
revenue was NT$3,767 million, down 11.18 % sequentially and down 8.78%
year-over-year. The quarter-over-quarter and year-over-year decrease was
mainly due to customer capacity adjustments in mid and large size product
line.
Full year 2023 revenue totaled NT$16,286 million, down 17.25% from 2022.
Consolidated Gross Profit and Gross Margin
The Fourth-quarter gross profit was NT$1,272 million, down 10.34%
sequentially, and up 15.00% year-over-year. Gross margin for the quarter
was 33.78%, up 0.31 percentage points sequentially, and up 6.99
percentage points year-over-year. The quarter-over-quarter and
year-over-year increase were mainly due to changes of the product mix
and new products mass production.
Full year 2023 gross profit was NT$5,282 million, down 26.07%
year-over-year. Gross margin for 2023 was 32.43%, down 3.88 percentage
points year-over-year.
Consolidated Net Income, Net Profit Margin and EPS
Net income for the quarter was NT$612 million, down 7.35%
Sequentially, and up 105.09% year-over-year. Net profit margin for the
quarter was 16.25%, higher than 15.57% previous quarter and 7.23% in the
year-ago quarter. EPS was NT$4.43, up from NT$3.98 in the prior quarter
and NT$1.87 in the year-ago quarter. The quarter-over-quarter and
year-over-year increase in net income, net profit margin and EPS were
mainly due to changes of the product mix.
Full year 2023 net income was NT$2,367 million, down 27.59%
year-over-year. Accumulated EPS was NT$13.29 for the year, compared with
NT$16.49 in 2022.
