Faraday Reports Fourth Quarter 2020 Revenues at NT$1,430 Million, 2020 Annual Revenues NT$5,495 Million, Mass Production Up 18% YoY
Hsinchu, Taiwan – Jan, 26 2021 -- Faraday Technology Corporation (“Faraday” or the “Company”) (TWSE: 3035), a leading fabless ASIC service and silicon IP provider, today announced its consolidated financial results for the fourth quarter of 2020. Fourth quarter consolidated revenues were NT$1,430 million, down by 4.2% quarter-over-quarter and up by 2.0% year-over-year, with gross margin of 46.8%. Net income attributed to stockholders of the parent was NT$23 million, with a basic EPS of NT$0.09. For the fiscal year of 2020, consolidated revenues totaled NT$5,495 million, an increase of 3.6% year-over-year. Net income attributed to stockholders of the parent was NT$268 million, with a basic EPS of NT$1.08.
In the fourth quarter, the Company’s revenues declined 4.2% quarter-over-quarter to NT$1,430 million mainly due to lower sales of mass production. Although revenues from NRE and IP still grew from previous quarter. Despite declined mass production from existing customers in the fourth quarter, the shipment of new projects continued from last quarter, resulting in mass production growth by 17.9% year-over-year in the second half of 2020. The applications of new projects including automation, AIoT and Audio/Video...etc. which mostly are niche products with long life cycle and also the ideal applications pursued by the Company. Looking back to 2020, Faraday reported annual revenues at NT$5.5 billion, a 3.6% growth from previous year. Though NRE sales recognition was deferred caused by the pandemic, the growth momentum of niche projects accelerated, resulting in annual mass production growth of 17.6% year-over-year. In terms of design win, both order amount and project number remained at high level with lifted average order amount on the back of long-term customer base, aiming to lay the foundation for the Company’s long-term business growth.
Looking into 2021, the first quarter revenue is likely to grow consecutively in the traditionally slow season. With the structural change on both product application and customer bases, Faraday holds a positive view on 2021 outlook and expects continued upward trend of ASIC and IP.
Summary of Operating Results
(Amount: NT$ million) | 4Q20 | 3Q20 | QoQ% change |
Net sales | 1,430 | 1,493 | (4.2) |
Gross profit | 669 | 701 | (4.6) |
Operation expenses | (645) | (625) | 3.1 |
Operating income | 24 | 76 | (67.9) |
Non-operating income and expense | (3) | 5 | (159.6) |
Net income attributed to stockholders of the parent | 23 | 62 | (62.2) |
Earnings per share (NTD) | 0.09 | 0.25 |
To read the full article, click here
Related Semiconductor IP
- 1.8V/3.3V I/O library with ODIO and 5V HPD in TSMC 16nm
- 1.8V/3.3V I/O Library with ODIO and 5V HPD in TSMC 12nm
- 1.8V to 5V GPIO, 1.8V to 5V Analog in TSMC 180nm BCD
- 1.8V/3.3V GPIO Library with HDMI, Aanlog & LVDS Cells in TSMC 22nm
- Specialed 20V Analog I/O in TSMC 55nm
Related News
- Rambus Reports Second Quarter 2020 Financial Results
- CEVA, Inc. Announces Second Quarter 2020 Financial Results
- Synopsys Posts Financial Results for Third Quarter Fiscal Year 2020
- Cadence Reports Third Quarter 2020 Financial Results
Latest News
- Will RISC-V reduce auto MCU’s future risk?
- Frontgrade Gaisler Launches New GRAIN Line and Wins SNSA Contract to Commercialize First Energy-Efficient Neuromorphic AI for Space Applications
- Continuous-Variable Quantum Key Distribution (CV-QKD) system demonstration
- Latest intoPIX JPEG XS Codec Powers FOR-A’s FA-1616 for Efficient IP Production at NAB 2025
- VeriSilicon Launches ISP9000: The Next-Generation AI-Embedded ISP for Intelligent Vision Applications