Issued date: 2024/4/26
Issued by: iST
Hsinchu, Taiwan, R.O.C. April 26, 2024 – iST (TWSE:3289), today announced its financial statement of Q1 2024 on a consolidated basis.
1. Revenues in Q1 2024 totaled approximately NT$ 1.069 billion, an increase of 15.69% QoQ and 8.96% YoY.
2. Operating gross profit in Q1 2024 was about NT$ 302 million, an increase of 27.11% QoQ and 0.82% YoY. The gross profit rate of Q1 2024 was 28.24%.
3. Net operating profit in Q1 2024 was about NT$ 114 million, an increase of 138.85% QoQ and a decrease of 8.51% YoY.
4. Net profit attributable to the parent company for Q1 2024 was approximately NT$ 133 million, an increase of 197.07% QoQ and 36.10% YoY.
5. The EPS after tax for the Q1 2024 was approximately NT$1.80, a growth of 200.00% QoQ and 37.40% YoY.
iST stated that in the Q1 of 2024, unaffected by the reduced working days during the Lunar New Year, and with the support of high-end chip verification orders, the company achieved outstanding performance. Consolidated revenue for the Q1 was NT$1.069 billion, breaking the NT$1 billion mark for the first time in history. Net profit attributable to the parent company for the first quarter reached NT$ 133 million, with EPS of NT$1.8, marking a quarterly increase of 200.00% and a year-on-year increase of 37.40%, reaching a new historical high for the same period. The company’s operational achievements are remarkable.
At the same time, iST’s board of directors today approved the earnings distribution plan for the Q1 of 2024, with a cash dividend of NT$1 per share.
Behind this achievement, iST’s proactive strategy and excellent service in advanced processes, advanced packaging, AI (Artificial Intelligence), and other related verification analysis solutions are highlighted.
In terms of advanced processes, the global semiconductor industry’s focus on advanced processes is a key focus. It is necessary to ensure process quality and technical leadership through reliability verification, failure analysis, and material analysis.
In addition to the promotion of advanced processes, achieving advanced packaging through heterogeneous integration is another major driving force for continuous innovation in the semiconductor industry. With the flourishing development of various AI applications, AI servers especially rely on high-power top-grade chips that require heterogeneous integration. Through advanced packaging technology support, these chips can process large amounts of data at high speed and execute instructions quickly. The verification analysis of such chips is crucial to ensure early-stage development quality and chip functionality, which helps reduce the risk of failures. Related international AI and HPC verification analysis orders have driven iST’s impressive performance in the first quarter.
Regarding subsidiaries, in order to effectively integrate operational resources, optimize resource allocation, and improve overall operational efficiency through strategic management, technology, talent, and resource sharing, subsidiary Prosperity Power Technology Inc. (ProPowertek) which provides energy-saving component solutions, has merged with another subsidiary, Innovative Turnkey Solution Corporation (ITS), in accordance with Article 18 of the ” Business mergers and acquisitions act”. This month, “New ProPowertek ” officially kicked off, expected to realize synergies, save management and operating costs, and enhance competitiveness. At the same time, ProPowertek continues to improve yield and delivery, collaborates with major power component customers to pass strict verification by major AI server end customers, and gradually enters mass production. It is expected to contribute revenue in the second quarter and profit in the second half of the year.
iST’s Q1 2024 consolidated results
(Unit: NT$ thousands, except EPS)
| Item | Q1 2024 |
Q1 2023 |
Increase (Decrease) % |
Q4 2023 |
Increase (Decrease) % |
|---|---|---|---|---|---|
| Operating revenue |
1,069,292 | 981,318 | 8.96% | 924,248 | 15.69% |
| Operating gross profit |
301,942 | 299,472 | 0.82% | 237,542 | 27.11% |
| Net operating profit | 113,739 | 124,323 | (8.51%) | 47,620 | 138.85% |
| The net profit attributable to the parent company | 133,320 | 97,956 | 36.10% | 44,878 | 197.07% |
| EPS after tax NT$ |
NT$ 1.80 | NT$ 1.31 | 37.40% | NT$ 0.60 | 200.00% |
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 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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