Alchip Technologies Sets Record Q2 Revenue and Operating Income
Guides for Continued Q3 Revenue Growth
Taipei, Taiwan September 8, 2021 – Alchip Technologies’ 2021 second quarter financial results set records for revenue and net income. This is the sixth consecutive quarter in which the company has reported record financial results.
Second quarter revenue was $97.4 million, up 77 percent from year-ago revenue of $55 million and up 3.9% over first quarter 2021 revenue of $93.7 million. At the same time, second quarter net income reached a record $13.9 million, exceeding Q1 2021 net income of $13.7 million. Second quarter operating income was reported at $17.5 million, a 101% increase over Q2 2020 operating income of $8.7 million, but down slightly from Q1, 2021 results of $17.6 million. Earnings per share for the quarter was NT5.7.
The outstand second quarter financials are being attributed to record mass production revenue and demand, coupled with multiple tape-out and designs wins. The company also saw a strong upward swing worldwide in business demand opportunities.
In laying out the company’s Q3 forecast, Alchip President and CEO, Johnny Shen cited continued growth in global semiconductor demand and additional revenues generated from 7nm products.
“Given the robust investment in IC industries, design opportunities keep on increasing. Demand is particularly strong for high performance computing designs targeting computing and artificial intelligence applications. The first 7nm AI chip shipment to a US customer is scheduled to kick off in late 3Q21, with high expectation on volume. This is in addition to a second and third AI chip destine for another US customer,” he said.
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.