February consolidated revenues were $4.22 billion

Primax Electronics (4915 TT / 4915.TW) announced today that its consolidated revenue for February was NT$4.22 billion, which showed an annual increase of 64% compared to NT$2.57 billion from the same period of 2020. However, it decreased by 41% compared to NT$7.18 billion for January. The cumulative revenue for January and February this year totaled NT$11.4 billion, which showed an annual increase of 45%.

February's revenue declined compared to that of January because of the fewer working days during the Lunar New Year. Moreover, some customers had also started to procure goods earlier in January in preparation for the Lunar New Year.

February's annual growth momentum was primarily driven by strong demands from the three major product lines of Primax.

Smart interface device: home office has continued to drive demands for computer peripherals and e-sports- related products. Visual image: growth for automotive advanced driving assistance systems (ADAS) and electric vehicle sensing camera modules have been much higher than expected thanks to demands from major U.S. electric vehicle manufacturers. Manufacturers are also stocking up on smart phone camera modules early. Acoustic products: primarily benefited from continued demands for home entertainment audio systems that have driven revenues and new project shipments.

Primax indicated that it expects to continue to benefit from the product structure optimization this year and has considerable confidence towards the profit growth momentum.

Major product lines: the demands for home office and gaming-related interface devices remained strong, laying a solid foundation for company profitability. Vehicle electronics (electric vehicle sensing camera modules and ADAS) is also expected to benefit from the high growth momentum of major U.S. electric vehicle manufacturers and maintain exponential growth. Acoustic products will continue to increase the high-end product ratio and optimize the customer portfolio. Therefore, profits from acoustic products will stabilize and grow substantially compared to that of previous year. Smart Internet of Things (fleet management, camera modules for police law enforcement, etc.), Smart Homes (smart door lock and doorbell) and other strategic commercial and industrial application investments will also gradually contribute and inject the next wave of growth momentum into the company.