Phison: Fiscal November 2021 Financial Results

Phison Electronics Corp. announced the operating results for November 2021.

Consolidated revenue was NT$5.803 billion, an increase of 38% over the same period last year, which was the second highest in a single month in history; the accumulated revenue from the year to November reached NT$57.564 billion, a 30% Y/Y increase, setting a new historical high for the same period.

Compared with the same period last year, total shipments of PCIe SSD controllers in November grew by more than 97%; the total shipments of industrial-grade controllers grew by nearly 145%. In addition, the cumulative annual growth rate of PCIe SSD controller shipments to November exceeded 127%, a record high for the same period in history; and the annual growth rate of the total shipments of industrial grade controllers is nearly 30%, and the annual cumulative total memory shipments (total bits) also grew by nearly 42%, setting a new historical high for the same period.

November is approaching the end of 2021. In order to meet the peak shopping season in the European and American markets at the end of each year, customers around the world have stocked up and increased their inventory in the third quarter. Therefore, the slowdown in the procurement demand of B2B customers in the fourth quarter is in line with expectations. However, due to firm’s flexible business model and diversified market operations, coupled with its strategy (IP licensing, NAND controller sales, ASIC design service, NAND storage module ODM solution), the company still delivered excellent operating results.

In addition, despite the slowdown in demand for the memory industry in the market, the demand for NAND storage is expected to be driven by 5G wireless technology as the demand for DRAM and NAND markets are quite different, and the NAND storage capacity of all electronic systems will continue to rise. In the long run, the overall NAND storage market will show growth potential without a ceiling, which will have a positive benefit on the long-term revenue and profit of Phison.