Largan Precision (3008) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2023 reached NT$18.95 billion, up 39% year-over-year; net income for the quarter was NT$6.63 billion, up 11% year-over-year.

• For the first nine months of 2023, revenue was NT$41.25 billion, up 33% year-over-year; net income was NT$17.24 billion, up 33% year-over-year.

• Gross margin for Q3 2023 was 50%, a significant improvement from 43% in Q3 2022.

• Basic EPS for Q3 2023 was NT$49.67, and for the first nine months was NT$129.16.

Financial highlights

• Operating income for Q3 2023 was NT$7.80 billion, up 101% year-over-year.

• Operating expenses for Q3 2023 totaled NT$1.71 billion, up from NT$1.92 billion in Q3 2022.

• Interest income for Q3 2023 was NT$1.07 billion; other income was NT$100.95 million.

• Cash and cash equivalents at September 30, 2023, were NT$96.73 billion.

• Total assets at September 30, 2023, were NT$201.81 billion; equity attributable to parent was NT$167.29 billion.

Outlook and guidance

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

• Operations are not affected by seasonality or cyclical factors.