Egis Technology Inc. Reports EPS of NT$3.46 in 2Q19

TAIPEI, , Aug. 13, 2019 /PRNewswire/ -- Egis Technology Inc. (6462.TWO) reported 2Q19 revenue of NT$1,899mn, up 36% QoQ, and up 28% YoY. 

2Q19 GM declined 3 ppts QoQ to 38%. But on a pro forma basis (excluding write-off impact), GM was slightly higher than 1Q19 level.

2Q19 OPM was 12%, improved by 1 ppt from 1Q19 but declined versus 2Q18's OPM of 17%.

EPS was NT$3.46, improved from NT$1.96 in 1Q19 but down from NT$4.20 in 2Q18.

Demand from key Korean customer was affected by model transition as well as other macro factors in recent months.

Outlook

3Q19 revenues may see mild QoQ growth, with July being the trough in terms of monthly pattern. Nonetheless, visibility remains short due to macro events like Korea/Japan dispute, US/China Huawei trade tensions, etc.

Pull-in of new models at key Korean customer has commenced in August, and Egis will be working on more smartphone/tablet models in 2H19 than in 1H19.

For Chinese customers, shipments of optical sensors started in June/July, and volume wills further expand this quarter.

Based on current forecasts, a stronger QoQ top-line growth is likely to be seen in 4Q19.

Development of next-generation fingerprint (ultra-slim, etc.) and non-fingerprint (OIS, etc.) products is on track, with potential revenue contribution starting from 2020.

The company will have 3 upcoming events. The first one will be the OTC/KGI Conference in Singapore on August 29 followed by OTC/KGI Conference in Hong Kong on the 30^th of August.  Last but not least will be the Credit Suisse 20^th Asian Technology Conference in Taiwan from September 4^th to the 5^th.

About Egis Technology Inc.

As a leading provider of fingerprint biometrics, Egis Technology Inc. (6462.TWO), specializes in providing a total turnkey solution with superior sensor performance and software functionality. Our proprietary matching algorithm offers one of the best FAR/FRR performances in the current market while providing maximum security and convenience. Egis' leading edge fingerprint technology is the ideal choice for implementation in mobile devices. As a board member of the FIDO Alliance, Egis aims to provide security and authentication for all in the online world. Egis is headquartered in Taipei, Taiwan with branch offices located in mainland China, Japan, and USA. For more information, please visit www.egistec.com.

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