Fitipower Integrated Technology Inc. providing an overview of the
First-Quarter Consolidated Results at the analyst meeting.
1Q24 consolidated revenue of NT$3,722 million, down 1.18% from previous
quarter and down 5.43% year-over-year
1Q24 consolidated gross margin of 29.93%, down 3.85 percentage points
from previous quarter, and down 0.55 percentage points year-over-year
1Q24 consolidated operating income of NT$382 million, down 34.15% from
previous quarter, and down 22.05% year-over-year
1Q24 consolidated net income of NT$449 million; EPS of NT$3.17
Consolidated Revenue
Fitipower Integrated Technology Inc. today providing an overview to
financial results of first-quarter ended Mar 31, 2024. The first-quarter
revenue was NT$3,722 million, down 1.18% sequentially and down 5.43%
year-over-year. The quarter-over-quarter and year-over-year decrease was
mainly due to the end market adjustments in small size product line.
Consolidated Gross Profit and Gross Margin
The First-quarter gross profit was NT$1,114 million, down 12.45%
sequentially, and down 7.15% year-over-year. Gross margin for the quarter
was 29.93%, down 3.85 percentage points sequentially, and down 0.55
percentage points year-over-year. The quarter-over-quarter and
year-over-year decrease were mainly due to changes of the product mix.
Consolidated Net Income, Net Profit Margin and EPS
Net income for the quarter was NT$449 million, down 26.57%
Sequentially, and up 3% year-over-year. Net profit margin for the quarter
was 12.07%, lower than 16.25% previous quarter, and higher than 11.08% in
the year-ago quarter. EPS was NT$3.17, down from NT$4.43 in the prior
quarter, and up from NT$2.26 in the year-ago quarter.
The quarter-over-quarter decrease and year-over-year increase in net
income, net profit margin and EPS were mainly due to changes of the
product mix.
