Memtech International Ltd. Announces Unaudited Group Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Financial Guidance for the Fourth Quarter of 2016
For the nine months, the company reported revenue of USD 111,072,000 against USD 104,013,000 a year ago. The growth was primarily due to the increase in sales from the consumer electronics segment which grew from 29% of sales in the third quarter of 2015 to 40% in the third quarter of 2016. Other operating income was USD 1,119,000 against USD 941,000 a year ago. Profit before tax was USD 2,876,000 against USD 4,578,000 a year ago. Profit for the period attributable to owners of the company was USD 2,250,000 or 1.6 cents diluted per share against USD 4,326,000 or 3.1 cents diluted per share a year ago. Net cash generated from operating activities was USD 10,269,000 against USD 6,908,000 a year ago. Purchases of property, plant and equipment was USD 8,928,000 against USD 6,690,000 a year ago.
The group remains cautiously optimistic of its performance in the fourth quarter of 2016 and the company will see an improvement in the group's overall performance.