Fitipower Integrated Technology Inc. providing an overview of the
Second-Quarter Consolidated Results at the analyst meeting.
2Q23 consolidated revenue of NT$4,340 million, up 10.26 % from previous
quarter and down 19.57% year-over-year
2Q23 consolidated gross margin of 32.03%, up 1.55 percentage points from
previous quarter, and down 5.72 percentage points year-over-year
2Q23 consolidated operating income of NT$623 million, up 26.85% from
previous quarter, and down 46.07% year-over-year
2Q23 consolidated net income of NT$658 million; EPS of NT$3.13
Consolidated Revenue
Fitipower Integrated Technology Inc. today providing an overview to
financial results of second-quarter ended June 30, 2023.
The second-quarter revenue was NT$4,340 million, up 10.26 % sequentially
and down 19.57% year-over-year. The quarter-over-quarter increase was
mainly due to improvements in demand for certain consumer electronics.
The year-over-year decrease was mainly due to customers’inventory
adjustments across all product lines caused by weak end demand.
Consolidated Gross Profit and Gross Margin
The Second-quarter gross profit was NT$1,390 million, up 15.88%
sequentially , and down 31.76% year-over-year. Gross margin for the
quarter was 32.03%, up 1.55 percentage points sequentially, and down
5.72 percentage points year-over-year. The quarter-over-quarter increase
was mainly due to changes of the product mix. And the year-over-year
decrease reflected changes in prices and costs of our products.
Consolidated Net Income, Net Profit Margin and EPS
Net income for the quarter was NT$658 million, up 50.89% Sequentially,
and down 26% year-over-year. Net profit margin for the quarter was 15.17%
, higher than 11.08% previous quarter, but lower than 16.48% in the
year-ago quarter. EPS was NT$3.13, up from NT$2.26 in the prior quarter,
but down from NT$4.04 in the year-ago quarter. The quarter-over-quarter
increases in net income, net profit margin and EPS were mainly due to
changes of the product mix. The year-over-year decreases in net income,
net profit margin and EPS were mainly due to lower revenue and gross
margin in this quarter.
