Hsinchu, Taiwan, R.O.C. - Macronix International Co., Ltd. (TSEC: 2337) today announced the reviewed financial results for the third quarter ended Sep. 30, 2020. All numbers were prepared in compliance with the TIFRS on a consolidated basis.

Summary of the Third Quarter 2020(below, 'this quarter'):

  • Net sales was NT$10,957 million (US$373.2 million).
  • Gross profit was NT$3,934 million (US$134.0 million) with 36% gross margin.
  • Operating income was NT$1,870 million (US$63.7 million) with 17% operating margin.
  • Income before tax was NT$1,861 million (US$63.4 million); net income was NT$1,618 million (US$55.1 million).
  • EPS was NT$0.88; book value per share was NT$18.71.

This Quarter Financial Highlights :
Net Sales
The Company announced this quarter net sales of NT$10,957 million (US$373.2 million), an increase of 18% sequentially and a decrease of 8% year-over-year.

Gross Profit and Gross Margin
Gross profit and Gross margin for this quarter was NT$3,934 million (US$134.0 million) and 36%, respectively. Gross profit increased 21% sequentially and increased 10% year-over-year.

Operating Expenses and Operating Income
Operating expenses for this quarter were NT$2,063 million (US$70.3 million), an increase of 12% sequentially and an increase of 15% year-over-year. Operating income for this quarter was NT$1,870 million (US$63.7 million), an increase of 34% sequentially and an increase of 5% year-over-year.

Net Income and EPS
For this quarter, income before taxes was NT$1,861 million (US$63.4 million), an increase of 33% sequentially and flat year-over-year.
For this quarter, the income tax expense was NT$244 million (US$8.3 million), the net income after tax was NT$1,618 million (US$55.1 million).
EPS was NT$0.88 (US$0.03).
For this quarter, the book value was NT$18.71 per share.
Current assets and cash flow
As of Sep. 30, 2020, the debt-to-asset ratio was 44.5% which was lower than 45.8% on Jun 30, 2020.

As of Sep. 30, 2020, the Company had NT$7,798 million (US$268.0 million) in cash and cash equivalents.

As of Sep. 30, 2020, net inventory was NT$12,485 million (US$429.0 million), compared to NT$11,518 million on June 30, 2020, an increase of NT$967 million.

As of Sep. 30, 2020, the total liabilities was NT$27,838 million (US$956.6 million), compared to NT$27,918 million on June 30, 2020, a decrease of NT$80 million；Shareholders' equity was NT$34,691 million (US$1,192.1 million).

Depreciation and amortization expenses were NT$977 million (US$33.3 million) for this quarter. Net cash flow from operating activities was NT$1,486 million (US$50.6 million) for this quarter. Capital expenditure for this quarter was NT$2,577 million (US$87.8 million) mainly for the procurement of production and R&D related equipment.

This Quarter Business Highlights
NAND Flash, NOR Flash and ROM represent 9%, 38% and 46% of the Net Sales Respectively
NAND Flash products accounted for 9% of net sales for this quarter, a sequential increase of 3% and a decrease of 2% year-over-year.

NOR Flash products accounted for 38% of net sales for this quarter, a sequential decrease of 4% and decline a little year-over-year.

ROM revenue accounted for 46% of net sales for this quarter, a sequential increase of 58% and a decrease of 18% year-over-year.

FBG products accounted for 7% of net sales for this quarter, a sequential increase of 19% and an increase of 14% year-over-year.
Quarterly Consolidated Statements of Income

* ppt: percentage points
Consolidated Condensed Balance Sheet

For details, please refer to the reviewed financial reports of 2020Q3.
Safe Harbor Statement
The statement contains certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements.
Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.
The forward-looking statements in this release reflect the current belief of Macronix as of the date of this release and Macronix undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date

About Macronix International Co., Ltd.
Macronix, a leading integrated device manufacturer in the Non-Volatile Memory (NVM) market, provides a full range of NOR Flash, NAND Flash, and ROM products. With its world-class R&D and manufacturing capability, Macronix continues to deliver high-quality, innovative and performance driven products to its customers in the consumer, communication, computing, automotive, networking and other segment markets.

For more information, please visit the Macronix's website: www.macronix.com

Contacts:
Douglas Sun
Macronix International Co., Ltd.
Finance Center / Investor Relations
+03 578 6688 ext. 76632
douglassun@mxic.com.tw

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Macronix International Co. Ltd. published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 08:34:02 UTC