ASKTF - ASKTF STOCK NEWS

Asetek reported a Q3 2021 revenue of $13.5 million, down from $21.6 million in Q3 2020. Despite a 9-month revenue growth to $61.7 million (+37%), the Q3 gross margin fell to 39% from 47%. A one-time charge of $1.7 million was incurred due to the exit of the HPC data center niche. The company anticipates 2021 revenue growth of 10-20%, now leaning towards the lower range. Operating loss stood at $4.1 million, with a negative EBITDA of $1.4 million. Challenges from chip shortages and logistics continue to impact operations.

Asetek has announced its liquid cooling technology is powering ASUS's new ROG Strix LC GeForce RTX 3080 Ti graphics card. This collaboration focuses on high-performance cooling solutions, essential for managing the card's increased thermal load of 400W thermal design power (TDP). The product features a 240mm radiator, optimized cold plate, and ARGB fans for personalization. Asetek's technology aims to ensure silent operation and extended GPU lifespan, enhancing the gaming experience for enthusiasts.

Asetek has initiated a share buyback program totaling USD 3,000,000, authorized by the Board of Directors on April 22, 2021. The program permits the purchase of up to 237,100 shares until September 02, 2021. It aims to cover obligations related to employee stock options, enhancing shareholder value by potentially increasing earnings per share (EPS). The buyback will be executed under EU Regulation 2273/2003 and monitored by SEB, limiting daily acquisitions to 25% of the average volume traded.

Asetek, based in Oslo, updates its 2021 revenue and operating income forecasts, projecting a 20-30% revenue increase compared to 2020 due to robust demand in Gaming and Enthusiast products. The Company estimates an operating income of $11-16 million, which reflects a rise in overhead costs tied to growth. Previously, Asetek anticipated a 10-20% revenue growth and an operating income of $9-15 million. The first quarter 2021 report will be issued on April 22.

Asetek has announced the launch of the MSI MPG CORELIQUID K Series premium AIO CPU coolers, utilizing its advanced liquid cooling technology. These coolers are designed for extreme CPU overclocking and feature ARGB lighting with silent operation, catering to gamers and tech enthusiasts. The MPG CORELIQUID K Series is designed for optimal performance and durability, available in 240mm and 360mm sizes. Key features include out-of-bounds temperature monitoring and improved resistance. This collaboration highlights Asetek’s leadership in liquid cooling solutions.

Asetek A/S announced a share buyback program initiated on October 23, 2020, with a maximum value of USD 4 million to repurchase a maximum of 381,000 shares. As of March 5, 2021, the buyback has resulted in 314,463 shares bought back at an average price of NOK 99.3462, totaling USD 3,565,286.10. This program is in compliance with EU regulations. Currently, Asetek holds 1,165,987 shares in treasury, representing 4.35% of its share capital.

Asetek invites stakeholders to its Capital Markets Update (CMU) and Q4 2020 earnings presentation on March 4, 2021. The event will feature presentations from key executives, including CEO André Sloth Eriksen and CFO Peter Dam Madsen, discussing company strategy, markets, and financial outlook. Asetek's investments in IP, software, and hardware related to the Asetek SimpSorts product will also be highlighted. The event will include a Q&A session, allowing participants to engage with management.

Asetek reported a record quarterly revenue of $27.9 million for Q4 2020, a 78% increase from Q4 2019. Full year revenue reached $72.8 million, up 34% year-over-year. The company achieved a gross margin of 44% in Q4, slightly up from 43% in Q4 2019. Adjusted EBITDA was $6.9 million in Q4, compared to $2.6 million in the same period last year. Asetek anticipates a 10-20% revenue growth for 2021 but expects a lower gross margin due to currency effects. The company has completed two acquisitions to bolster its Gaming and Enthusiast product line.

Asetek, a leader in liquid cooling solutions, announced its technology powers SAPPHIRE's TOXIC AMD RADEON RX 6900 XT Limited Edition Graphics Card. This collaboration features a 360mm Hybrid GPU cooler that significantly lowers GPU temperatures, enhancing performance and acoustics for gamers. The cooler supports power draw up to 400 Watts and improves overclocking potential, delivering higher frame rates and better visuals. Asetek's partnership with SAPPHIRE underscores its commitment to advanced cooling solutions for gaming enthusiasts.