Macronix: Fiscal 2Q21 Financial Results

Macronix International Co., Ltd. announced the reviewed financial results for the second quarter ended June 30, 2021.
 
Summary of 2FQ21:
• Net sales were NT$11,426 million ($410.9 million).
• Gross profit was NT$4,466 million ($160.6 million) with 39.1% gross margin.
• Operating income was NT$2,305 million ($82.9 million) with 20.2% operating margin.
• Income before tax was NT$2,174 million ($78.2 million); net income was NT$1,925 million ($69.2 million).
• EPS was NT$1.04; book value per share was NT$21.20.

Net Sales
The company announced this quarter net sales of NT$11,426 million ($410.9 million), an increase of 19% sequentially and an increase of 23% Y/Y.
 
Gross Profit and Gross Margin
Gross profit and gross margin for this quarter was NT$4,466 million ($160.6 million) and 39.1%, respectively. Gross profit was increased 35% sequentially and increased 38% Y/Y.
 
Operating Expenses and Operating Income
Operating expenses for this quarter were NT$2,160 million ($77.7 million), an increase of 1% Q/Q and 17% Y/Y. Operating income for this quarter was NT$2,305 million ($82.9 million), an increase of 97% Q/Q and 66% Y/Y.
 
Net Income and EPS for the quarter

• Income before taxes was NT$2,174 million ($78.2 million), an increase of 119% Q/Q and 55% Y/Y.
• For this quarter, tTmillion).
• EPS was NT$1.04 ($0.04).
• The book value was NT$21.20 per share. 

Current assets and cash flow as of June 30, 2021

• The debt-to-asset ratio was 41.2% which was lower than 42.1% on March 31, 2021.
• The company had NT$11,796 million ($423.4 million) in cash and cash equivalents.
• Net inventory was NT$14,009 million ($502.8 million), compared to NT$13,238 million on March 31, 2021, an increase of NT$771 million.
• Total liabilities were NT$27,571 million ($989.6 million), compared to NT$27,212 million on March 31, 2021, an increase of NT$359 million. Shareholders’ equity was NT$39,311 million ($1,411.0 million).
   

For this quarter, depreciation and amortization expenses were NT$1,056 million ($38.0 million) net cash flow from operating activities was NT$2,851 million ($102.5 million), capital expenditure was NT$520 million ($18.7 million) mainly for the procurement of facility, production and R&D related equipment.
 
Quarter Business Highlights

• NAND flash, NOR flash and ROM represent 16%, 50% and 27% of the net sales respectively.
• NAND flash products accounted for 16% of net sales, up 57% Q/Q and and 82% Y/Y.
• NOR flash products accounted for 50% of net sales, up 16% Q/Q and 32% Y/Y.
• ROM revenue accounted for 27% of net sales, up 20% Q/Q and down 4% Y/Y.
• FBG products accounted for 7% of net sales, down 15% Q/Q and up 33% Y/Y.