Chroma Ate Inc (OTCPK:CRMJF)

$ 2.3136 0 (0%) Market Cap: - Enterprise Value: -66.77 Mil PE Ratio: 50.30 PB Ratio: 8.28 GF Score: 90/100

Q2 2024 Chroma ATE Inc Earnings Call Transcript

Jul 31, 2024 / 09:00AM GMT

Transcript

Key Points

Positve

Chroma Ate Inc (TPE:2360) reported a 25% year-over-year growth in net sales for the second quarter of 2024, reaching approximately TWD5.5 billion.
The company's testing equipment business saw a 23% growth compared to the previous quarter and a 25% growth year-over-year.
Gross margin for the second quarter was 59%, with a 27% growth in absolute numbers compared to the first quarter of 2024.
Net income for the second quarter was TWD1.4 billion, marking a 47% increase from the previous quarter and a 36% increase year-over-year.
The semiconductor sector showed significant growth, with sales in the first half of 2024 already surpassing total sales from the previous year, indicating a 200% increase.

Negative

Operating expenses increased alongside sales revenue, which could impact future profitability if not managed carefully.
The ATS segment is expected to remain flat or slightly decline in 2024 due to a slowdown in the EV market.
The overall EV and battery business is experiencing a down year, with no significant recovery expected until 2025.
The company's power business, while recurring, is not expected to perform better than last year due to the EV market slowdown.
There is uncertainty regarding the future contribution of the metrology segment, as it is still in the final stages of development and customer adoption.

Operator

Ladies and gentlemen, to Chroma's 2024 second quarter earnings conference call. (Operator Instructions) And for your information, a webcast replay will be available within an hour after the conference is finished. Please visit www.chroma.com.tw/investor/index under the Investor Relations section.

And now I would like to turn the call over to CFO, Paul Ying. Paul, please begin.

Paul Ying

Chroma ATE Inc - Senior Deputy General Manager-Finance & Administration Center, Head of Finance & Accounting

Thank you. Hi, everyone. This is Paul. Today, the 2024 second quarter earnings conference will be conducted by myself and Jennifer. I will start up with the financial review, and then Jennifer will follow up by the operational highlights.

Well, let's go through the second quarter and then consolidated income statement. You can see from here that the net sales of the second quarter of 2024 is approximately TWD5.5 billion and compared to the first quarter, TWD4.4

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