Novatek Announces 2021 Unaudited Consolidated Financial
Result & 2022 First Quarter Outlook
Date of events
2022/02/11
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/02/11
2.Company name:Novatek Microelectronics Corp.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):head office
4.Reciprocal shareholding ratios:N/A
5.Cause of occurrence:N/A
6.Countermeasures:N/A
7.Any other matters that need to be specified:
Hsin-chu, Taiwan, ROC - February 11th, 2022 - Novatek (TSE:3034),
a leading global Display IC total solution provider, today
announced its unaudited consolidated financial result of 2021
and the first quarter outlook of 2022 at the analyst meeting.
Revenue, operating expense, and operating income of 2021 reached
NT$135.37 billion, NT$19.62 billion, and NT$47.77 billion,
representing year-over-year increase of 69.30%, 48.85%, and
223.28%, respectively. The gross profit margin of 2021 rose to
49.78%, up from 34.97% of 2020. Net income of 2021 increased by
228.89% year-over-year to NT$38.87 billion, with earnings per
share of NT$63.87.
The fourth quarter revenue decreased by 4.70% quarter-over-quarter
to NT$36.54 billion from NT$38.35 billion in Q3'21, and increased
by 62.75% year-over-year from NT$22.45 billion in Q4'20. The
revenue decline came from soft demand of SOC product and TV
drivers, and the year-end inventory adjustment. The fourth quarter
gross margin 51.45% which ahead of the guidance of 48.0%-51.0%,
was mainly caused by the product mix and ASP increased for part of
products.
The fourth quarter operating expenses increased quarter-over-quarter
to NT$5.35 billion from NT$4.79 billion in Q3'21 and increased
year-over-year from NT$3.79 billion in Q4'20. Fourth quarter
operating income decreased quarter-over-quarter to NT$13.45 billion
from NT$15.12 billion in Q3'21 and increased year-over-year from
NT$4.75 billion in Q4'20
Novatek's 2021 Q4 net income was NT$10.93 billion, which decreased
quarter-over-quarter by 10.90% from NT$12.27 billion in Q3'21 and
increased year-over-year by 200.02% from NT$3.64 billion in Q4'20.
Earnings per share for Q4'21 were NT$17.97, compared with NT$5.99
in Q4'20.
Management expects overall performance for the first quarter 2022:
Revenue is expected to be between NT$ 35.8billion and NT$ 36.8billion
Gross profit margin is expected to be between 48% and 51%
Operating profit margin is expected to be between 34% and 37%
Attachments
Original Link
Original Document
Permalink
Disclaimer
Novatek Microelectronics Corp. published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2022 08:37:03 UTC.
Novatek Microelectronics Corp is mainly engaged in the manufacture of electronic components, information software services and international trade. The Company's main products include flat-panel display drive wafers and system-on-chip (SOC) wafers. Flat-panel display drive wafers mainly include large-size liquid crystal display (LCD) and active matrix organic light-emitting diode (AMOLED) panel drive wafers, LCD touch and touch controller and display drive integration (TDDI) and AMOLED drive wafers for mobile phones, and automotive panel drive wafers. SOC wafers include LCD panel timing control wafers, digital TV system control single wafers, LCD monitor control wafers, motion estimation and motion compensation (MEMC) image processing wafers, driving recorders, image sensor wafers for reversing display, security control wafers, image sensor wafers for external computer cameras.