Browave (3163) Q2 2024 earnings summary

Executive summary

• Designs, manufactures, and sells fiber optic communication components, with shares listed OTC since December 2012.

• Consolidated financials for Q2 2024 and Q2 2023 reviewed by PwC, with a qualified conclusion due to some subsidiaries' statements not reviewed.

Financial highlights

• Revenue for H1 2024 was NT$1,008.2M, down 19% year-over-year from NT$1,241.3M.

• Net income for H1 2024 was NT$294.8M, up 41% year-over-year from NT$209.6M.

• Gross margin for H1 2024 was 17%, up from 21% in H1 2023.

• Basic EPS for H1 2024 was NT$3.66, compared to NT$2.78 in H1 2023.

• Cash and equivalents at June 30, 2024 were NT$869.6M, down from NT$1,310.2M a year earlier.

Outlook and guidance

• No significant changes in accounting standards expected to impact financials in the near term.

• Management expects continued focus on fiber optic communication components.