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TAIPEI, Nov. 12, 2019 /PRNewswire/ -- Egis Technology Inc.'s (6462.TWO) 3Q19 revenues grew 9% QoQ to NT$2.1bn, better than our guidance of "mild" growth.
Gross margin had a nice improvement, up 6 pts QoQ to 44%, and was the highest since 1H16.
Operating profit rose 60% QoQ, while operating margin also increased 6 pts QoQ to 18%.
EPS was NT$4.2, up 22% QoQ, partially impacted by F/X losses seen in recent weeks.
Outlook
Big customers requested not to carry inventory at year-end, and this may result in some order fluctuations for us. As a result, total shipment volume in 4Q19 could be less than what we have predicted a few months ago.
That being said, we see it as a temporary matter at the most, and we continue to see an increase in model counts, which is in line with what we have been communicating to the market.
Also, some of the models that we are shipping now are already for customers' launch in 1H20.
Last but not least, shipments of optical sensors for our second Chinese customer have already commenced.
Gross margin will remain stable.
The company will have 2 upcoming events in the month of November. The first one will be 3Q19's Earning Conference at OTC on the 12th in Taiwan. The second event will be Morgan Stanley's 18th Asia Pacific Summit from the 20th to the 22nd in Singapore.
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. Their 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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