Financials

Quarterly Report For The Financial Quarter Ended 31 March 2017

Financials Archive

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Condensed Consolidated Income Statement
For The Period Ended 31 March 2017

Condensed Consolidated Statement Of Financial Position
As At 31 March 2017

Review of Performance

The Group recorded higher revenue at RM47.6 million in the current quarter as compared to RM28.6 million registered in the corresponding quarter last year, representing an increase of 66.4%. The higher revenue recorded was mainly due to increase in sales from both automated equipment and smart control solution system segment which was partially offset by the lower revenue from automated manufacturing solution operating segment.. Due to the higher revenue achieved and better product mix secured, the Group recorded a higher profit before tax of RM9.3 million in the current quarter as compared to the pre-tax profit of RM4.2 million in the previous corresponding quarter, representing an increase of 121.4%.

Performance of the respective operating segments for the current quarter as compared to the previous corresponding quarter is analysed as follows:-

  1. Automated equipment

    This segment recorded an increase in revenue by RM21.6 million to RM42.9 million as compared to the previous corresponding quarter mainly due to higher demand for the test equipment from semiconductor market especially the smart device sector. Consequently, this segment recorded a higher profit before tax of RM11.9 million against profit before tax of RM4.4 million in the previous corresponding quarter mainly attributable to higher revenue recorded coupled with better product mix with higher margin achieved.

  2. Automated manufacturing solution

    Revenue from this segment was RM3.7 million lower than the previous corresponding quarter mainly due to lower demand for the integrated manufacturing solution from customers in current quarter. As a result of lower revenue achieved, this segment recorded a loss before tax of RM2.1 million as compared to profit before tax of RM0.5 million in the previous corresponding quarter.

  3. Smart Control Solution System

    This segment recorded an increase in revenue by RM1.1 million to RM1.6 million for the current quarter under review. Despite the higher revenue achieved, this segment recorded a higher loss before tax of RM0.6 million as compared to the loss before tax of RM0.4 million in the previous corresponding quarter. This was mainly due to the low margin prototype sales coupled with the slight increase in its administrative cost as compared to the previous corresponding quarter.

Current Year Prospect

The market outlook in respect of demand for smart devices for mobile and automotive segment is expected to dominate the semiconductor industry. This leads to our anticipation that the demand for our test solution for the smart devices will grow in 2017. In addition to this, with the current shortage of labour and demand for high standard manufacturing requirement, the demand for our i-ARMS solution is expected to grow as well.

Looking ahead, we are cautiously optimistic that year 2017 will be another good year for the Group with the current business opportunities in our high-end smart IC device test solutions and i-ARMS. We will continue to strengthen our market position and expand the customer base.