Parade Technologies Result 03/11/2016

Parade Technologies posted Q3 FY16 consolidated sales of $65.8 and Q3 FY16 net profit of $9.5 mn, resulting in a net profit margin of 14.5%. The Q3 FY16 sales were up 8.3% from Q3 FY15 sales of $60.8 mn, but lower than Q2 FY16 sales of $68.8 mn.

The Q3 FY16 net profit also saw a minor decline from last year’s Q3 net profit of $ 10 mn, indicating a drop in profitability on a year on year basis.

In Q3 FY16, Parade had announced industry’s first DisplayPort 1.4 jitter cleaning and demux devices that provide Dual-Mode DisplayPort support, meaning they pass-through and jitter clean both a native DisplayPort signal as well as an HDMI signal. In October 2016, Parade also announced the first integrated capacitive touchscreen controller and display driver solution for smartphone FHD in-cell displays. Based on these new product launches, Parade expects further grow its revenue base in Q4 FY16 to reach in range of $70.0-77.0 mn.