Alchip Technologies Q3 Revenue Sets Fiscal Year ’22 Record
Operating Income and Net Income Up Year-on-Year
Taipei, Taiwan November 29, 2022 – Alchip Technologies set a fiscal year 2022 record with Q3 revenue reaching $117.5 million, reflecting a year-on-year increase of 28 percent over Q3 2021 revenue of $94.1 million, and a quarter-on-quarter increase of 16.2 percent over Q2 2022 revenue of $101.1 million.
Operating income for Q3 2022 is $18.6 million, representing a 21.9 percent year-on-year increase over Q3 2021 results of $14.4 million, but a decline of 3.6 percent from Q2 2022 operating income of $19.3 million.
Net income for Q3 2022 is $14.5 million, equating to a year-over-year increase of 12.6 percent over Q3 2021 net income of $12.9 million, and a slight 0.5 percent increase over Q2 2022 net income of $14.49 million.
Advanced technology, production and designs for 7nm and smaller line-width, accounted for 69 percent of Q3 2022 revenue and 66 percent of revenue for fiscal 2022 to date. High-performance computing applications drove 78 percent of Q3 2022 revenue and 78 percent of revenue for fiscal year to date.
For the second consecutive quarter, North America, accounted for the largest share of Q3 2022 revenue at 39 percent, followed by Asia Pacific at 38 percent. For fiscal year 2022, North America markets contributed 36% of revenue, after accounting for only 14 percent for all of 2021.
Management reports that Q3 revenue came mildly lower than expected because production revenue still suffered from tight ABF substrate supply constraints.
“On the other hand, design demand remained robust as most of the projected milestones came in on schedule, but profit margin was down due to a higher percentage of production revenue and other one-time expenses,” explained Alchip President and CEO, Johnny Shen.
Alchip is traded on the Taiwan stock exchange. The company is extremely well respected in North America, Japan, Israel, Taiwan, and China for its high-performance ASIC design methodology, flexible business model, best-in-class IP portfolio and advanced packaging technology expertise.