Phison: Fiscal 1Q22 Financial Results

Phison Electronics Corp. announced its consolidated financial results for 1FQ22 and revenue for April 2022.

Consolidated revenue in the first quarter was NT$17.105 billion, an Y/Y increase of 33%; gross profit was NT$5.395 billion, a yearly increase of 42%; gross profit margin reached 31.54%, a record high for the same period in history; in addition, the net profit after tax and EPS in 1FQ22 also reached NT$2.185 billion and NT$11.09 respectively, both hitting new highs for the same period in history.

Compared to 1FQ21, the total shipments of SATA and PCIe controllers in 1GQ22 increased by more than 25%, of which the total shipments of PCIe SSD controllers increased by nearly 77%. In addition, the total shipments of memory bits (total bits) in 1FQ22 increased by nearly 25%, setting a new record for the same period in history.

K.S.Pua, CEO, said that 1FQ22 is a special period. Due to the contamination of NAND makers such as KIOXIA and WD in mid-January, the market expects that there may be a short supply gap during the traditional peak season. Phison is working closely with partners and customers around the world to reduce the impact.

CEO went on to explain that the recent wars, epidemic lockdowns, and inflation have mainly affected consumer products and markets. The company is also responding, including rolling inventory level adjustments, continuous expansion of non-consumer/retail revenue contributions, active efforts in the enterprise SSD and automotive storage markets, and strengthening the product line in high-speed transmission solutions (such as ReDriver and ReTimer IC), consolidating the foundation of its growth. The firm will work with global partners and customers to meet the next wave of market demand prosperity.

In addition, for the part of revenue in April 2022, the consolidated revenue was NT$5.902 billion, an increase of 16% over 1FQ21 (Y/Y annual growth rate); the annual cumulative revenue to April 2020 reached NT$23.008 billion, an increase of 28% Y/Y compared with 1FQ21, setting a new record for the same period in history.