ASICLAND, [2024 2nd Quarter Performance Announcement] “Performance recovery expected as AI projects gain momentum in the second half of the year”
▶ Sales recovery anticipated as AI, SSD, and RF development projects commence in earnest in the second half of the year
[2024-08-16] ASICLAND (445090, CEO Jong-min Lee), a leading ASIC (Application Specific Integrated Circuit) design solution provider, disclosed its performance results for the second quarter of 2024 in its semi-annual review report.
In the second quarter of 2024, ASICLAND reported sales of 12.1 billion won with an operating loss of 4 billion won. Cumulative sales for the first half of the year reached 33.8 billion won, with an operating loss of 2.1 billion won.
The decline in performance was attributed to several factors: ▲ delays in sales due to adjustments in the development schedules of major clients, ▲ a temporary increase in one-time welfare-related expenses for the relocation of the headquarters and the improvement of the working environment for executives and employees, and ▲ a more than 40% increase in research personnel compared to the previous year, owing to the expansion of R&D experts to enhance competitiveness.
An official from ASICLAND stated, “Sales were temporarily delayed in the first half of the year due to the development schedules of major clients, but starting in the second half of the year, sales are expected to recover and continue to grow as projects gain full momentum.” The official also added, “With the increasing global demand for AI, ASICLAND is planning to create significant growth momentum by entering the global market and is currently working on establishing an R&D center in Taiwan as a strategic base.” The official further mentioned, “ASICLAND’s differentiated technological capabilities are expected to draw more attention and expand its market presence.”
In the meantime, ASICLAND has laid the groundwork for sales diversification by entering new markets through advanced AI investments. SSD and RF-related projects are also anticipated to drive sales growth, not only improving performance in the second half of the year but also further strengthening the foundation for mid- to long-term growth.
Furthermore, ASICLAND has demonstrated its technological prowess and competitiveness in the global market by signing an eSSD controller development contract valued at $19 million (approximately KRW 26.1 billion).
ASICLAND, [2024 2nd Quarter Performance Announcement] “Performance recovery expected as AI projects gain momentum in the second half of the year”
▶ Sales recovery anticipated as AI, SSD, and RF development projects commence in earnest in the second half of the year
[2024-08-16] ASICLAND (445090, CEO Jong-min Lee), a leading ASIC (Application Specific Integrated Circuit) design solution provider, disclosed its performance results for the second quarter of 2024 in its semi-annual review report.
In the second quarter of 2024, ASICLAND reported sales of 12.1 billion won with an operating loss of 4 billion won. Cumulative sales for the first half of the year reached 33.8 billion won, with an operating loss of 2.1 billion won.
The decline in performance was attributed to several factors: ▲ delays in sales due to adjustments in the development schedules of major clients, ▲ a temporary increase in one-time welfare-related expenses for the relocation of the headquarters and the improvement of the working environment for executives and employees, and ▲ a more than 40% increase in research personnel compared to the previous year, owing to the expansion of R&D experts to enhance competitiveness.
An official from ASICLAND stated, “Sales were temporarily delayed in the first half of the year due to the development schedules of major clients, but starting in the second half of the year, sales are expected to recover and continue to grow as projects gain full momentum.” The official also added, “With the increasing global demand for AI, ASICLAND is planning to create significant growth momentum by entering the global market and is currently working on establishing an R&D center in Taiwan as a strategic base.” The official further mentioned, “ASICLAND’s differentiated technological capabilities are expected to draw more attention and expand its market presence.”
In the meantime, ASICLAND has laid the groundwork for sales diversification by entering new markets through advanced AI investments. SSD and RF-related projects are also anticipated to drive sales growth, not only improving performance in the second half of the year but also further strengthening the foundation for mid- to long-term growth.
Furthermore, ASICLAND has demonstrated its technological prowess and competitiveness in the global market by signing an eSSD controller development contract valued at $19 million (approximately KRW 26.1 billion).