Thursday, November 24, 2011

Notion VTec expects earnings to recover from slowdown

KUALA LUMPUR (Nov 24): Hard disk drive (HDD) parts maker Notion VTec is confident that its earnings will recover following an expected slowdown in the current quarter.

Its chairman and executive director Thoo Chow said: 'Our business model has continued to be robust, we should be able to recover over the next three quarters,'

In the fourth quarter ended Sept 30, it recorded net profit of RM12.49 million, up 44.5% from RM8.64 million a year ago. It revenue rose 20.2% to RM61.96 million from RM51.55 million.

For the financial year ended Sept 30, its earnings rose 23.3% to RM46.86 million from RM38 million a year ago.

However, Notion VTec expected revenue is expected to be 45% lower in the first quarter ended Dec 31, 2011 due to disruptions from the severe flooding in Thailand.

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