RAFAEL MICROELECTRONICS (6568) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 was NT$259.5 million, up 11% year-over-year, with net income of NT$35.7 million, up 214% from Q2 2023.

• Six-month revenue was NT$504.3 million, down 6% year-over-year, but net income rose to NT$63.1 million, up 85% from the prior year.

• Gross margin improved to 43% in Q2 2024 from 35% in Q2 2023.

Financial highlights

• Q2 2024 operating income was NT$40.7 million, up from NT$4.8 million in Q2 2023.

• Basic and diluted EPS for Q2 2024 were NT$1.17, compared to NT$0.37 in Q2 2023.

• Cash and cash equivalents at June 30, 2024 were NT$312.0 million, down from NT$587.7 million a year earlier.

• Total assets at June 30, 2024 were NT$1,664 million, with equity of NT$1,410 million.

Outlook and guidance

• The company continues to focus on R&D and market expansion, with capital expenditures contracted for but not yet provided for totaling NT$83.5 million.

• Dividend of NT$1.8 per share (NT$55.3 million total) was proposed for 2023 earnings.