GaAs foundry AWSC sees revenue slow down

Related company info

Julian Ho, Taipei; Willis Ke, DIGITIMES

Wednesday 3 November 2021

Latest stock

AWSC [8086] historical stock price (NT$)
Date	Volume (k)	Transactions	Value	Open	High	Low	Close	Change		Ask	Bid
27-May	2,743	2,015	241,357,400	85.10	89.40	85.10	88.20	+4.10	+4.88%	88.20	13.00
26-May	644	565	54,629,800	84.90	85.90	84.10	84.10	-0.80	-0.94%	84.10	6.00
25-May	950	699	80,341,300	84.00	85.40	83.30	84.90	+1.30	+1.56%	84.80	1.00
23-May	1,479	1,191	128,039,400	88.80	88.90	85.50	85.70	-2.10	-2.39%	85.70	16.00
20-May	1,233	900	108,061,300	88.20	89.60	86.70	87.80	-0.20	-0.23%	87.70	1.00

Latest sales

AWSC: Consolidated revenues, Apr 2021 - Apr 2022 (NT$m)
Month	Sales	M/M	Y/Y	YTD	Y/Y
Apr-22	187	2.7%	(50%)	798	(44.6%)
Mar-22	182	0.2%	(50.9%)	611	(42.7%)
Feb-22	182	(26.3%)	(45.6%)	429	(38.3%)
Jan-22	247	(28.3%)	(31.5%)	247	(31.5%)
Dec-21	344	(19%)	(0.9%)	4,716	33.1%
Nov-21	425	(5.7%)	24.9%	4,372	36.8%
Oct-21	450	2.4%	39.5%	3,947	38.2%
Sep-21	440	2.6%	41%	3,497	38%
Aug-21	429	4%	49.6%	3,057	37.6%
Jul-21	412	4.1%	47%	2,628	35.8%
Jun-21	396	4.6%	39.4%	2,216	34%
May-21	379	1.2%	35.7%	1,819	32.8%
Apr-21	374	1%	35.4%	1,440	32.1%

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

AWSC: Consolidated revenues, 4Q20 - 4Q21 (NT$m)
Quarter	Sales	Q/Q	Y/Y	YTD	Y/Y
4Q-21	1,219	(4.8%)	20.7%	4,716	33.1%
3Q-21	1,281	11.4%	45.7%	3,497	38%
2Q-21	1,150	7.9%	36.8%	2,216	34%
1Q-21	1,066	5.5%	31%	1,066	31%
4Q-20	1,010	14.9%	29.4%	3,543	60.6%

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

Latest balance sheet and income statement

AWSC: Consolidated balance sheet, 4Q20 - 4Q21 (NT$k)
Item	4Q-2021	3Q-2021	2Q-2021	1Q-2021	4Q-2020
Current assets	4,214,893	4,567,425	5,439,224	5,837,112	5,936,568
Intangible assets	18,329	16,833	19,530	16,953	20,607
Non-current assets	4,682,114	4,245,365	3,727,804	3,012,498	2,608,411
Assets	8,897,007	8,812,790	9,167,028	8,849,610	8,544,979
Current liabilities	865,441	993,405	1,604,714	933,718	803,339
Non-current liabilities	96,806	98,175	97,538	98,895	100,247
Liabilities	962,247	1,091,580	1,702,252	1,032,613	903,586
Stockholders' equity	7,934,760	7,721,210	7,464,776	7,816,997	7,641,393

*Figures are consolidated
Source: TSE, compiled by Digitimes, May 2022

AWSC: Consolidated income statement, 4Q20 - 4Q21 (NT$k)
Item	4Q-2021		3Q-2021		2Q-2021		1Q-2021		4Q-2020
Item	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales
Operating revenue	1,219,215		1,281,276		1,149,793		1,065,737		1,010,118
Gross profit (loss) from operations	366,041	30%	388,599	30.3%	334,128	29.1%	297,363	27.9%	268,897	26.6%
Operating expenses	119,715	9.8%	98,651	7.7%	92,612	8.1%	98,578	9.2%	83,515	8.3%
Operating income (loss)	246,326	20.2%	289,948	22.6%	241,516	21%	198,785	18.7%	185,382	18.4%
Non-operating expenses and losses	12,021	1%	1,037	0.1%	-15,939	-1.4%	1,431	0.1%	-32,547	-3.2%
Income from continuing operations before income tax	258,347	21.2%	290,985	22.7%	225,577	19.6%	200,216	18.8%	152,835	15.1%
Net income (loss)	213,550	17.5%	256,434	20%	198,024	17.2%	175,604	16.5%	144,336	14.3%
Diluted earnings per share (NT$)	1.1		1.3		1		0.9		0.7