Adata: Fiscal 1Q24 Financial Results
Y/Y sales and net income up 51% and 1,760%, respectively, for WW ≠2 DRAM module and branded SSD module maker
This is a Press Release edited by StorageNewsletter.com on May 28, 2024 at 2:02 pm| (in NT million) | 1Q23 | 1Q24 | Growth |
| Revenue |
7,211 | 10,881 | 51% |
| Net income (loss) | 57 | 1,058 | 1,760% |
Adata Technology Co., Ltd. announced its consolidated financial results for 1CQ24 ending on March 2024.
Thanks to rising memory prices and effective inventory management, the company recorded revenue of NT10,881 million, up 51% Y/Y.
It hit a record-high gross margin of 26.43% and an operating profit of NT$1.55 billion. The gross margin gained 15 percentage points from 11.53% in 1CQ23 to 26.43% in 1CQ24. Operating profit also soared to NT$1.55 billion, a 36-fold increase compared to NT$42 million in 1CQ23. Net income amounted to NT$1.06 billion, marking a 17.6-fold increase Y/Y and a 45.51% growth Q/Q. Net income attributable to shareholders of the parent reached NT$1.06 billion, reflecting a 42-fold surge from 1CQ23.
Revenue Breakdown By Product
NAND Flash Contract Prices
Adata is the 2nd largest DRAM module and branded SSD module (behind Kingston) manufacturer in the world according to TrendForce, has 2,200 employees and owns more than 500 patents.
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