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New highs for Revenue, Operating Income, Net Income and EPS
2024 Yearly breakdown
Taipei, Taiwan, March 28, 2025 (GLOBE NEWSWIRE) -- Alchip Technologies 2024 financial performance set records for the seventh straight year. Results include new highs for revenue, operating income, net income, and earnings per share.
Fiscal year 2024 revenue, ending December 31, reached a record $1.62 billion, a 65.4% increase over FY 2023 revenue of $978.4 million. Operating income for FY 2024 achieved a record $202.3 million, an increase of 67.6% over 2023 operating income of $120.7 million. FY 2024 net income reached $200.8 million, an 88.4% increase over FY 2023 net income of $106.6 million. Earnings per share for the FY 2024 achieved a record NTD81.3, exceeding last year’s previous record of NTD45.5.
At the same time, Alchip reported its fourth quarter 2024 financial results. Fourth quarter 2024 revenue was $404.1 million, a 38.8% year-on-year increase over fourth quarter 2023 revenue of $291.1 million. Operating income for the fourth quarter 2024 was $54.3 million, up 37.6% over the fourth quarter 2023 operating income of $39.4 million. Likewise, net income for the fourth quarter 2024 was $56.9 million, a 60.7% increase over the fourth quarter 2023 net income of $35.4 million. Earnings per share for the fourth quarter 2024 reached NTD23, up from earnings per share for the fourth quarter 2023 of NTD15.2.
On a geographic basis, revenue from North America experienced a significant year-on-year jump. North America accounted for 86% of all 2024 revenue, up from its contribution of 63% in 2023. Revenue from the Asia Pacific region accounted for 10% of 2024 total revenue, down from 22% of total revenue in 2023. Japan accounted for 2% of 2024 total revenue, with the rest of the world contributing the remaining 2%.
Alchip reaffirmed its position as a leading high-performance computing and AI ASIC company, with these applications accounting for 93% of revenue; with niche and networking applications accounting for a combined 6%. Consumer applications accounted for the remaining 1% of 2024 revenue.
On a process node basis, advanced technologies, defined as devices manufactured at 7nm-and-below technologies, accounted for 96% of 2024 revenue, up from 89% in 2023. Devices manufactured on 16nm and 12nm technologies contributed 2% to 2024 revenue, while 28nm-and-above technologies accounted for the remaining 2%.
President and CEO Johnny Shen credited strong 7nm AI chip shipments to North America for strong 2024 revenue growth. He also cited continuous improvement in operation efficiency and improved non-operating income, primarily higher interest income, for 2024 net income growth exceeding 2024 revenue growth.