Getac (3005) Q3 2024 earnings summary

Executive summary

• Q3 2024 consolidated revenue reached NT$9,136 million, up 5.6% sequentially; nine-month revenue was NT$26.5 billion, up from NT$25.8 billion year-over-year.

• Net income attributable to owners for the nine months was NT$3.39 billion, up from NT$2.89 billion year-over-year; Q3 net income was NT$1,135 million.

• EPS for the nine months was NT$5.55, up from NT$4.76 year-over-year; Q3 EPS was NT$1.85.

• Gross margin improved to 32.0% in Q3 2024, up from 27.5% year-over-year.

• Total assets as of September 30, 2024, stood at NT$42.6 billion, with equity at NT$25.0 billion.

Financial highlights

• Q3 2024 gross profit was NT$2,927 million; nine-month operating profit was NT$4.40 billion, up from NT$3.72 billion year-over-year.

• Operating expenses in Q3 2024 were NT$1,565 million, up 7.7% year-over-year for the nine-month period.

• Profit before income tax for Q3 2024 was NT$1,451 million, up 18.1% year-over-year for the nine-month period.

• Net cash from operating activities for the nine months was NT$4.07 billion, up from NT$4.02 billion year-over-year.

• Cash and cash equivalents at period end were NT$12.3 billion, compared to NT$11.4 billion a year earlier.

Segment performance

• Electronic products accounted for 51% of Q3 2024 revenue, mechanical products 40%, aerospace fasteners 9%.

• Automotive mechanical products represent 40% of global seatbelt spindle and spool supply.

• Rugged computing solutions serve defense, public safety, utilities, transportation, and manufacturing.