Tuesday, September 20, 2011

KESM 4Q earnings down 50.8% to RM2.14m

KUALA LUMPUR: KESM INDUSTRIES BHD []'s earnings fell 50.8% to RM2.14 million in the fourth quarter ended July 31, 2011 from RM4.36 million a year ago which was due to lower sales margins but for the financial year, it managed to record double-digit increases in pre-tax profit and revenue.

KESM, described as the country's largest independent burn-in service company, said on Tuesday, Sept 20 revenue slipped 5.6% to RM61.35 million from RM65.05 million while earnings per share (EPS) were 5.0 sen versus 10.10 sen.

It proposed a dividend of three sen a share. Its net asset per share was RM5.22.

For the financial year ended July 31, 2011, its net profit increased 5% to RM12.38 million from RM11.74 million while revenue rose 10% to RM248.11 million from RM226.46 million. It recorded pre-tax profit of RM22.71 million, an increase of 17% compared with RM19.40 million. Operating expenses fell 9% to RM223.95 million from RM207.11 million.

KESM executive chairman and chief executive officer Sam Lim said the company broke a new record with double-digit growth in revenue and net profit for the financial year ended July31, 2011.

'We could have done even better in our performance if not for the earthquake and tsunami in Japan which interrupted our material supply chain to the electronic manufacturing services activity. The depreciation of the US dollar had also slackened our results,' he said.

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