YC (232140) Q3 2024 earnings summary

Executive summary

• Specializes in manufacturing and selling automatic test equipment (ATE) for DRAM and NAND memory semiconductors, with a focus on wafer-level testing and repair functions.

• Operates globally with three consolidated subsidiaries, including YIK JAPAN and DAS CORPORATION.

• Recently changed its corporate name and continues to invest in R&D for next-generation memory testers.

Financial highlights

• 2024 Q3 consolidated revenue: ₩147.3B, down 42% year-over-year from ₩255.2B.

• Operating income for 2024 Q3: ₩9.5B, down from ₩36.4B in the prior year.

• Net income attributable to controlling interests: ₩8.6B, compared to ₩12.9B in 2023.

• Basic and diluted EPS for Q3: ₩66, down from ₩169 in 2023.

• Cash and cash equivalents at Q3-end: ₩13.9B, down from ₩21.1B at 2023 year-end.

Outlook and guidance

• Expects continued growth in global semiconductor and test equipment markets, driven by AI, HBM, DDR5, and SSD demand.

• Anticipates increased investments from major memory manufacturers in 2025, especially for high-value products.

• Focused on expanding customer base and product portfolio, with new products targeting DRAM and NAND markets.