Taipei, Taiwan, Sept. 20, 2023 (GLOBE NEWSWIRE) -- Alchip Technologies' Q2 2023 financial results set quarterly revenue, gross profits, and net income records for the company.
Second quarter 2023 revenue notched a record $258.5 million, up more than 155 percent from Q2 2022 revenue of $101.1 million, and up 37.5 percent over Q1 2023 revenue of $188 million. Gross profits for the second quarter of 2023 were a record $55.1 million, a 58 percent increase over Q2 2022 gross profits of $34.9 million, and a 40 percent increase over Q1 2023 gross profits of $39.4 million.
At the same time, the second quarter 2023 net income set a record of $23.9 million, 65.1% higher than Q2 2022 net income of $14.5 million, and up 25.2 percent when compared to Q1 2023 net income of $19.1 million. Earnings per share for Q2 2023 were NTD 10.16.
Much of the Q2 2023 revenue record can be traced to the fact that 81 percent of all dollars were driven by high-performance computing applications. These same HPC applications accounted for an identical 81 percent of 2023 yearly revenue to date. On a process technology basis, revenue derived from designs at 7nm and more advanced accounted for 87 percent of Q2 2023 revenue and 81 percent of first half 2023 revenue. Equally insightful was the announcement that the North America region accounted for 62 percent of Q2 2023 revenue, dwarfing the Asia Pacific region's 17% contributions. Japan and other regions' income accounted for 21 percent of Q2 2023 revenue. As of year-to-date in 2023, the North American region has accounted for 63 percent of the total revenue, while the Asia Pacific region accounted for 20 percent, and Japan and other regions accounted for 17 percent.
Commenting on the record results, Alchip President and CEO, Johnny Shen credits the quarter-to-quarter increase to a pull-back in customer shipments in Q1 2023, then a push for higher production from those same customers in the second quarter of this year.
For a more information on Alchip, go to www.alchip.com
Alchip Technologies Ltd., founded in 2003 and headquartered in Taipei, Taiwan, is a leading global provider of silicon and design and production services for system companies developing complex and high-volume ASICs and SoCs. Alchip provides faster time-to-market and cost-effective solutions for SoC design at mainstream and advanced process technology. Alchip has built its reputation as a high-performance ASIC leader through its advanced 2.5D/3DIC design, CoWoS/chiplet design and manufacturing management. Customers include global leaders in AI, HPC/supercomputer, mobile phones, entertainment device, networking equipment and other electronic product categories. Alchip is listed on the Taiwan Stock Exchange (TWSE: 3661).
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