ASRock Industrial Computer (3515) Q1 2024 earnings summary

Executive summary

• Q1 revenue rose 13% YoY to NTD 4,953,220 thousand; operating income increased to NTD 300,196 thousand from NTD 150,865 thousand.

• Net profit reached NTD 346,127 thousand vs NTD 107,968 thousand; basic EPS was NT$2.53 vs NT$1.03.

Financial highlights

• Gross profit was NTD 1,011,996 thousand vs NTD 730,226 thousand; gross margin was 20% vs 17%.

• Profit before tax was NTD 426,524 thousand vs NTD 158,009 thousand; income tax expense was NTD 80,397 thousand vs NTD 50,041 thousand.

• Profit attributable to parent shareholders increased to NTD 308,065 thousand from NTD 125,061 thousand; diluted EPS was NT$2.53 vs NT$1.02.

• COGS rose 8% to NT$3,941 million; operating expenses increased 23% to NT$712 million.

• Inventory depreciation losses included in inventory costs were NTD 47,189 thousand vs NTD 154,474 thousand.

Segment performance

• Operations are managed as one operating unit, focused on R&D, design and sales of products such as motherboards.