APAC Opto Electronics (4908) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2023 was NT$186.5 million, down from NT$247.7 million in Q3 2022; YTD revenue reached NT$662.2 million, up 4.8% year-over-year.

• Net income for Q3 2023 was NT$27.7 million, with YTD net income at NT$138.8 million, a decrease from NT$149.5 million in the prior year period.

• Gross margin for Q3 2023 was 45%, up from 42% in Q3 2022; YTD gross margin was 44%.

• The company’s main product, optical transceiver modules, accounted for over 96% of total revenue.

Financial highlights

• Operating income for Q3 2023 was NT$36.2 million, with YTD operating income at NT$135.2 million.

• Basic EPS for Q3 2023 was NT$0.35; YTD basic EPS was NT$1.77, down from NT$1.91 year-over-year.

• Cash and cash equivalents as of September 30, 2023, were NT$175.8 million, up from NT$108.8 million a year earlier.

• Total assets at quarter-end were NT$1,792.7 million, with equity representing 90% of total assets.

• Cash dividend of NT$2.4 per share was distributed in 2023.

Outlook and guidance

• Management expects no material impact from newly adopted or upcoming IFRS standards.

• No significant seasonality or cyclicality is expected to affect operations.