UNIVERSAL MICROWAVE TECH (3491) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was NT$1,721,114 thousand, up 46% year-over-year from NT$1,177,167 thousand.

• Net income for the same period was NT$424,462 thousand, a 131% increase from NT$184,046 thousand year-over-year.

• Gross margin improved to 52% from 38% year-over-year, reflecting higher sales and improved cost structure.

• Earnings per share (EPS) for the nine months was NT$6.10 basic and NT$5.95 diluted, compared to NT$2.54 and NT$2.47, respectively, year-over-year.

Financial highlights

• Operating income for the nine months was NT$460,118 thousand, up from NT$134,830 thousand year-over-year.

• Operating expenses increased to NT$425,603 thousand from NT$317,066 thousand year-over-year, mainly due to higher R&D and administrative costs.

• Cash and cash equivalents at September 30, 2024, were NT$1,952,605 thousand, up from NT$603,776 thousand a year earlier.

• Total assets grew to NT$4,723,352 thousand from NT$3,287,001 thousand year-over-year.

• Equity attributable to owners increased to NT$2,604,047 thousand from NT$1,999,450 thousand year-over-year.

Outlook and guidance

• Management expects continued growth in communications components and network engineering services, supported by recent investments in production capacity and R&D.

• The company is expanding its international footprint with new subsidiaries in Vietnam and Thailand established in 2024.