KUALA LUMPUR: VITROX CORPORATION BHD []'s net profit for the fourth quarter (4Q) ended Dec 31, 2010 surged six-fold to RM8.16 million from RM1.15 million a year earlier, driven by higher sales recorded.
Its revenue surged 284% to RM23.23 million from RM6.05 million, due to higher sales from its machine vision system, automated board inspection and electronics communication system.
Earnings per share was 5.36 sen while net assets per share rose to 49.96 sen from 32.27 sen. For the financial year ended Dec 31, Vitrox's net profit surged to RM31.6 million from RM1.94 million on the back of revenue RM87.44 million.
Commenting on its prospects for the current financial year, Vitrox said that for the past quarters there was a strong demand for its product from the leading test and inspection equipment manufacturers and major electronics manufacturing service providers.
"The group has been able to consistently deliver commendable set of results in spite of tough business conditions, growing both the topline and bottomline by healthy margins and chalking up new milestones.
"In FY2011, the group will continue to stay focused in research and development on selected core and high value proposition products while stepping up efforts in marketing activities in order to remain in the forefront of the technologies and in preparation for the market demands," it said.
Its revenue surged 284% to RM23.23 million from RM6.05 million, due to higher sales from its machine vision system, automated board inspection and electronics communication system.
Earnings per share was 5.36 sen while net assets per share rose to 49.96 sen from 32.27 sen. For the financial year ended Dec 31, Vitrox's net profit surged to RM31.6 million from RM1.94 million on the back of revenue RM87.44 million.
Commenting on its prospects for the current financial year, Vitrox said that for the past quarters there was a strong demand for its product from the leading test and inspection equipment manufacturers and major electronics manufacturing service providers.
"The group has been able to consistently deliver commendable set of results in spite of tough business conditions, growing both the topline and bottomline by healthy margins and chalking up new milestones.
"In FY2011, the group will continue to stay focused in research and development on selected core and high value proposition products while stepping up efforts in marketing activities in order to remain in the forefront of the technologies and in preparation for the market demands," it said.
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