Alchip Technologies Reports Record Q1 FY2024 Revenue and Net Income

North America Accounts for 77 Percent of Revenue

/EIN News/ -- Taipei, Taiwan, May 16, 2024 (GLOBE NEWSWIRE) -- Alchip Technologies has reported record revenue of USD$333.6 million for the first quarter of its 2024 fiscal year, topping first quarter FY2023 revenue of USD$188 million by 77.4 percent, and fourth quarter FY2023 revenue of USD$291.1 million by 14.6 percent.

The Company also reported record net income for the first quarter of FY2024 of USD$39 million, up 103.9 percent over FY2023 first quarter net income of USD$19.1 million.  Earnings per share for the first quarter of FY2024 reached NT$15.8.

First quarter FY2024 operating income reached USD$38.5 million, an 84.1 percent increase over first quarter FY2023 operating income of USD$20.9 million.

Alchip also reported that its North American Region accounted for 77 percent of first quarter FY2024 revenue, with Asia Pacific contributing 15 percent, Japan 1 percent and the rest of the world 6 percent.

On a technology basis, 7nm and more advanced geometry designs accounted for 94 percent of revenue, while designs at nodes ranging from 12nm to 40nm and larger geometries accounted for the other 6 percent.  The Company’s bellwether high-performance computing applications accounted for 93 percent of first quarter FY2024 revenue.

Soaring AI chip shipments to North America accounted for the bulk of the revenue increase, according to President and CEO Johnny Shen.  He also pointed out that NRE revenue accounted for 15-20 percent of first quarter FY2024 total revenue.

Alchip is traded on the Taiwan Stock Exchange, with Global Depository Receipts trading on the Luxembourg Exchange.  The Company is extremely well respected in North America, Japan, Israel, and Asia for its high-performance ASIC design methodology, flexible business model, best-in-class IP portfolio and advanced packaging technology expertise.

For more information, go to www.alchip.com

About Alchip

Alchip Technologies Ltd., founded in 2003 and headquartered in Taipei, Taiwan, is a leading global provider of silicon 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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• 2024 Q1 Revenue Breakdown by Region

Charles Byers
                    Alchip Technologies
                    + (408)-310-9244
                    chuck_byers@alchip.com