Issued date: 2024/11/4
Issued by: iST
Hsinchu, Taiwan, R.O.C. November 4, 2024 – iST (TWSE:3289) today announced its financial statement of Q3 and Q1-Q3 2024 on a consolidated basis.
1. Revenues in Q3 2024 totaled approximately NT$ 1.116 billion, an increase of 5.98% QoQ and 19.60 % YoY, respectively.
2. Operating gross profit in Q3 2024 was about NT$ 335 million, an increase of 14.12% QoQ and 49.29 % YoY, respectively. The gross profit rate of Q3 2024 was 30%.
3. Net operating profit in Q3 2024 was about NT$ 119 million, an increase of 50.00% QoQ and 150.02 % YoY, respectively.
4. Net profit attributable to the parent company for Q3 2024 was approximately NT$ 85 million, a decrease of 50.52% QoQ and 6.77% YoY, respectively.
5. The EPS after tax for the Q3 2024 was approximately NT$1.15, a decrease of 50.64% QoQ and 5.74% YoY, respectively.
6. Revenues in Q1-Q3 2024 totaled approximately NT$ 3.238 billion, an increase of 12.15 % YoY.
7. Operating gross profit in Q1-Q3 2024 was about NT$ 911 million, an increase of 16.69 % YoY.
8. Net operating profit in Q1-Q3 2024 was about NT$ 292 million, an increase of 13.91% YoY.
9. Net profit attributable to the parent company for Q1-Q3 2024 was approximately NT$ 391 million, an increase of 14.80% YoY.
10. The EPS after tax for the Q1-Q3 2024 was approximately NT$5.28, an increase of 16.04% YoY.
iST (3289) today announced its financial results for the third quarter of 2024, reflecting steady growth. Consolidated revenue reached NT$1.116 billion, marking a new all-time high for a single quarter. This growth was primarily driven by orders from major international clients for AI-related projects, which boosted demand in Reliability Assurance (RA) and Failure Analysis (FA). Additionally, iST’s subsidiary Prosperity Power Technology Inc. (ProPowertek) excelled in orders for AI power component wafer thinning, showing strong operational results with significantly reduced losses, nearing break-even for the quarter.
Gross margins demonstrated a consistent upward trend in 2024, reaching 27.86% in Q2 and further rising to 30.00% in Q3. This improvement reflects iST’s progress in cost efficiency and technological innovation, particularly in high-margin services like AI verification and analysis, optimizing the overall gross margin structure effectively.
For the first nine months of 2024, iST posted impressive cumulative results, with consolidated revenue reaching NT$3.238 billion, marking a record high and a year-over-year increase of 12.15%. Net income attributable to the parent company reached NT$391 million, up 14.80% YoY, with an EPS of approximately NT$5.28, surpassing the company’s total profit for 2023.
Today, iST’s Board of Directors also approved a Q3 2024 earnings distribution proposal, with a cash dividend of NT$1.00 per share.
Looking ahead, iST remains focused on building momentum across various growth drivers, including AI high-speed transmission testing, liquid cooling reliability testing, space environment certification testing, automotive electronics, advanced packaging and manufacturing processes. These initiatives are expected to further drive growth in the coming quarters and reinforce iST’s leading position in global verification and analysis services.
In addition to its robust Q3 operational performance, iST has been recognized with multiple industry awards in Q3 2024, including second place in the Taiwan Institute of Directors’ “Taiwan BIC (Best-in-Class Project) Award.” The company was also a dual recipient of “the Excellence in Corporate Social Responsibility Award” and “For a Better Future Award” from CommonWealth Magazine and received the Ministry of Labor’s “Employee Care Award” under the Work-Life Balance Awards, underscoring its commitment to sustainable operations and exemplary employee welfare practices.
iST(TWSE:3289) Q1 and Q1-Q3 2024 consolidated results
(Unit: NT$ thousands, except EPS)
| Item | Q3 2024 | Q3 2023 | Increase (Decrease) % |
Q2 2024 | Increase (Decrease) % |
Jan-Sep 2024 | Jan-Sep 2023 | Increase (Decrease) % |
|---|---|---|---|---|---|---|---|---|
| Operating revenue |
1,116,033 | 933,105 | 19.60% | 1,053,057 | 5.98% | 3,238,382 | 2,887,471 | 12.15% |
| Operating gross profit |
334,802 | 224,266 | 49.29% | 293,376 | 14.12% | 910,563 | 780,316 | 16.69% |
| Net operating profit | 118,579 | 47,427 | 150.02% | 79,055 | 50.00% | 291,813 | 256,177 | 13.91% |
| The net profit attributable to the parent company | 85,320 | 91,514 | (6.77%) | 172,449 | (50.52%) | 391,089 | 340,676 | 14.80% |
| EPS after tax NT$ |
1.15 | 1.22 | (5.74%) | 2.33 | (50.64%) | 5.28 | 4.55 | 16.04% |
About Integrated Service Technology
Founded in 1994, iST began its business from IC circuit debugging and modification and gradually expanded its scope of operations, including Failure Analysis, Reliability Assurance, Material Analysis and so on. iST has offered full-scope verification and analysis services to the IC engineering industry, its customers cover the whole spectrum of the electronics industry from IC design to end products.
In response to the growing future trends, iST has established platforms for 5G/HPC/AI, Automotive Electronics verification, Space Satellite verification, Advanced Processes and Wide-bandgap Semiconductors, LTS ( low-temperature soldering) Process verification platforms, as well as High-speed Transmission Signal Testing, offering comprehensive verification and analysis services. With a commitment to providing complete solutions to customers, iST has expanded its services beyond verification to encompass Wafer Backend Process for mass production service.
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