Browave (3163) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was NT$1,464.67 million, down 26% year-over-year from NT$1,974.28 million.

• Net income for the same period was NT$316.59 million, a 19% decrease from NT$390.41 million year-over-year.

• Gross margin for the nine months was 14%, compared to 20% in the prior year.

• The company operates in the fiber optic communications components sector, with all revenue from this segment.

Financial highlights

• Operating income for the nine months was NT$151.28 million, down from NT$389.68 million year-over-year.

• Basic EPS for the nine months was NT$3.93, compared to NT$5.11 in the prior year.

• Cash and cash equivalents at September 30, 2024, were NT$879.53 million, down from NT$1,190.22 million a year earlier.

• Total assets at September 30, 2024, were NT$3,374.24 million, with equity of NT$2,674.15 million.

Outlook and guidance

• The company adopted new IFRS standards in 2024, with no material impact on financials.

• No forward-looking financial guidance was provided.