Written by The Edge
Tuesday, 03 August 2010 21:58
Mainboard-listed Excelpoint Technology, the total solutions provider of electronics components, says ongoing business recovery in the region has enabled the company to report a net profit after tax of US$0.4 million ($0.5 million) in 2Q FY2010 compared to the net loss of US$0.8 million in the same quarter last year.
Amid strong business sentiments, the group reported a 44.2% rise in revenue, which rose to US$121.3 million at the close of 2Q FY2010 from US$84.1 million in 2Q FY2009. Gross profit for the quarter amounted to US$8.9 million compared to US$6.5 million in the same quarter last year.
Net assets value increased from US$41.3 million as at 31 December 2009 to US$42.4 million as at 30 June 2010 due to increases in trade debtors’, trade creditors’ and inventory balances.
Excelpoint says for the next six months, it will continue to exercise caution in its business management although the market outlook for the electronic industry remains positive. On the R&D front, the team has developed new product solutions for the electronic and healthcare industries. When launched, they should pave the way for the group to enter into new market segments.
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