Parade Technologies Reports Second Quarter 2018 Financial Results

Parade Technologies, Ltd. (Taipei Exchange: 4966.TWO), a leading
high-speed interface IC supplier, today announced financial results for
the second quarter fiscal year 2018 ended June 30, 2018, and provided
guidance for the third quarter of fiscal year 2018.

Consolidated revenue was US$75.67 million and consolidated net income
was US$12.32 million. Basic and fully diluted after-tax earnings per
share (“EPS”) were US$0.16 (NT$4.80) and US$0.16 (NT$4.63),
respectively. These results compared to consolidated revenue US$85.92
million and consolidated net income of US$14.83 million, or US$0.20
(NT$5.95) and US$0.19 (NT$5.74) per basic and fully diluted share, in
the year-ago quarter.

In US dollars, the second quarter of 2018 consolidated revenue decreased
6.18% sequentially and was down 11.92% year-over-year.

The gross profit in the second quarter of 2018 was US$31.05 million,
representing a decrease of 5.73% from the previous quarter and a
decrease of 9.97% compared to the same quarter of last year.

On May 1, 2018, Parade announced a new generation DisplayPort to HDMI
protocol converter PS186. The PS186 accepts DisplayPort version 1.4a
audio/video data and outputs HDMI 2.0b with the ability to support HDR
at 4K. The PS186 is ideal for DisplayPort to HDMI protocol converters or
“dongles”, as well as docking stations, particularly those supporting
the USB-C™ interface that is seeing wide adoption across notebook PCs
and smart phones.

On May 8, 2018, Parade introduces industry’s first highly-integrated eDP
Tcon embedded driver (TED) IC that supports VESA eDP 1.4b panel
self-refresh developed for thin-profile LCD display panels. The TC3210
provides a single chip display driver solution to replace the
traditional eDP Tcon mated up with separate source driver chips. The
TC3210 is designed for Chip-on-Glass (COG) application on both slim LTPS
and Oxide TFT panels.

On May 16, 2018, Parade also announced the DP667V, a new automotive
grade selection of the company’s popular DP667 eDP Tcon. The DP667V
meets the rigorous automotive AEC-Q100 stress test qualification
requirements and operates over an ambient temperature range of -40 to
+105 deg C. The DP667V is ideally suited for larger, high-resolution
displays typically used for automotive infotainment and navigation
display applications including center console placement. The device is
designed to enable LCD panels with a resolution up to 4Kx2K, and two
devices can be used for panel resolutions up to 8Kx2K. And up to 30-bit
color is supported enabling superior image quality.

Based on current business outlook, Parade is providing the following
guidance for the third quarter of fiscal 2018:

The financial figures detailed above for the second quarter of 2018 have
been reviewed by independent accountants.

About Parade Technologies, Ltd.

Parade Technologies, Ltd. is a leading supplier of mixed-signal ICs for
a variety of popular display and high-speed interface standards used in
computers, consumer electronics and display panels. The fabless
semiconductor company was founded in 2005 and publicly listed on Taipei
Exchange (“TPEx”) in 2011 (stock code: 4966). Parade’s portfolio of
IC products serves the growing demand for HDMI™, DisplayPort™, SATA, and
USB ICs for display, storage and interface applications.

In addition to being a technology innovator, Parade is an active
participant and leader in industry standards-setting
organizations. Parade Technologies, Inc., a wholly owned US-based
subsidiary of Parade Technologies, Ltd., is a member of VESA (Video
Electronics Standard Association). Parade Technologies, Inc. has made
key contributions to the development of VESA’s DisplayPort™ digital
video interface standard.

Parade leverages its close relationships with market leading Tier-1 OEMs
to develop ICs that provide unique system capabilities. Many of the
company’s devices integrate proprietary technologies that offer superior
system signal integrity, advanced system integration and enhanced power
efficiency. As a result of the company’s “standards-plus” design
philosophy, Parade ICs have been designed into products offered by
nearly every leading computer and display vendor worldwide.

The reader is advised that these consolidated financial statements
have been prepared originally in NT$ and conformed with the
adoption of IFRSs.  In the event of any differences between NT$
and US$ version, the NT$ version shall prevail.

UNAUDITED CONSOLIDATED STATEMENTS OFCOMPREHENSIVE
INCOME

USD in Thousands

NTD in Thousands

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

View source version on businesswire.com: https://www.businesswire.com/news/home/20180801006070/en/

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