All Ring Tech (6187) Q3 2023 earnings summary

Executive summary

• 9M 2023 revenue was NT$835,312 thousand vs NT$1,958,478 thousand YoY; net income fell to NT$73,167 thousand from NT$476,841 thousand.

• Q3 revenue was NT$331,647 thousand vs NT$564,004 thousand YoY; net income was NT$28,763 thousand vs NT$159,158 thousand.

• Automation equipment serves semiconductor test and packaging, passive-component manufacturing, and PC/LED applications.

Financial highlights

• 9M gross margin was 47% vs 46% YoY; operating income was NT$12,026 thousand vs NT$429,313 thousand.

• Q3 gross margin was 42% vs 49% YoY; basic EPS was NT$0.35 vs NT$1.96. 9M basic EPS was NT$0.90 vs NT$5.86.

• Operating cash flow was NT$237,222 thousand vs NT$406,227 thousand; September cash and equivalents were NT$1,109,992 thousand, down from NT$1,394,524 thousand at year-end 2022.

• September 30, 2023, total assets were NT$3,978,407 thousand, liabilities NT$1,551,354 thousand, and equity NT$2,427,053 thousand.

Segment performance

• Semiconductor equipment represented 76% of revenue in 2023, versus 78% in 2022; passive components represented 8%, versus 17%.

• Other revenue represented 16% in 2023, versus 5% in 2022.

• Product lines include dispensers, AOI, die bonding, wafer handling, cutting, testing, winding, and packing equipment.