Home iST´s 2019 Q3 consolidated results

iST´s 2019 Q3 consolidated results

Home iST´s 2019 Q3 consolidated results

iST´s 2019 Q3 consolidated results

by yuting

Issued date: 2019/11/06
Issued by: iST

iST (TWSE:3289) today (November 6, 2019) announced its financial statement of Q3 2019 on a consolidated basis.

1. Revenues for Q3 2019 totaled approximately NT$ 952 million, an increase of 13.19% and 23.69% on a QoQ and YoY basis, respectively.

2. Gross profit in Q3 2019 was about NT$ 205 million, an increase of 47.19% and 78.68% on a QoQ and YoY basis, respectively.

3. Net operating profit in Q3 2019 was NT$ 2 million, which has turned a loss into a profit compared with the previous quarter and the same period last year.

4. Net profit before tax in Q3 2019 was NT$ 8 million, which also has turned a loss into a profit compared with the previous quarter and the same period last year.

5. Net profit attributable to parent company after tax for Q3 2019 was approximate NT$ 15 million, an increase of 3226.81% QoQ, which also has turned a loss into a profit compared with the same period last year.

6. EPS for Q3 was approximately NT$0.24, an increase of 2300.00% QoQ, and has turned a loss into a profit compared with the same period last year.
iST said, revenues in Q3 has reached a record high in a single-season history, and the gross margin 21.52% % was significantly higher than that in Q1 (9.55%) and Q2 (16.55 %) of this year, which showed that the downturn of iST’s business had passed and the operating performance returned to the normal level after the expansion.

iST further said, it has turned around its operating net profit from deficit to surplus, and terminated six consecutive quarterly losses of its main verification business. In addition, after deducting the expense of NT$ 20.6 million for employee stock options incurred as a result of the cash capital increase, the actual net operating profit of iST will be brighter. However, the expense of employee stock option is a one-time expense and will not be extended to Q4.

In terms of iST’s main verification business, along with the opening of 5G era in 2020, iST has received orders of preliminary research and development verification, analysis and reliability test of 5G chips since Q3, and these needs will be carried out continuously. This 5G verification demand will give a chance to drive the operation of iST to a higher level in 2020.

Besides, iST was awarded the 5th mittelstand award by the Industrial Development bureau of the Ministry of Economy Affairs at the end of October. Professional jury recognized iST as the first enterprise to establish semiconductor verification and analysis In Taiwan, with its key technical service mode.

In the respect of ITS, the subsidiary of iST, which has benefited from the US-China trade war. As a result, the revenue performance of ITS also has continued to rise and it is expected to move towards an IPO in two years later, said iST.

 

iST’s 2019 Q3 consolidated results

(Unit: NT$ thousands, except EPS)

Item Q3
2019
Q3
2018
Increase
(Decrease)
%
Q2
2019
Increase
(Decrease)
%
Operating
revenue
951,922 769,615 23.69% 841,011 13.19%
Operating
Gross margin
204,842 114,644 78.68% 139,171 47.19%
Net operating profit and (loss) 2,038 (72,314) 102.82% (51,221) 103.98%
Net profit and (loss)
before tax
8,355 (54,603) 115.30% (18,912) 144.18%
Net profit and (loss) after tax attributable to the parent company 15,636 (40,018) 139.07% 470 3,226.81%
EPS and

(negative EPS)
NT$

0.24 (0.63) 138.10% 0.01  2,300.00%
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 verification, 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 rising Cloud Intelligence, Internet of Things (IoT) and Internet of Vehicles (IoV), iST not only focuses on its core services but is also expanding its service offerings based on international trends, such as automotive electronic verification platforms, signal integrity testing services and wafer backend process integrated services.
http://www.istgroup.com