KUALA LUMPUR: Semiconductor assembly and test services firm Unisem (M) Bhd is expecting a challenging run-up to the year-end after posting lacklustre earnings for the first three quarters of this year.
In a filing with Bursa Malaysia yesterday, Unisem said net profit for its third quarter (3Q) ended Sept 30 plunged 89.77% to RM5.26 million from RM51.53 million a year ago. Revenue was down 22% to RM288.2 million in the same period.
In the notes to its financial results, Unisem said the lower turnover and earnings were mainly due to the weaker US dollar to ringgit exchange rate in the 3Q and lower sales volume for its products.
“The directors expect demand for the group’s products and services to remain weak for the next quarter (4Q) ending Dec 31 due to global economic uncertainty,” Unisem said.
Pre-tax profit similarly fell 96% to RM2.21 million from RM55.63 million while revenue declined 22.25% to RM288.19 million from RM370.69 million.
Earnings per share was 0.78 sen while net assets per share was RM1.61.
For the cumulative nine months, net profit dropped 84.14% to RM22.38 million from RM141.21 million. Revenue slid 16.21% to RM887.68 million from RM1.059 billion a year ago.
Quarter-on-quarter, Unisem’s net profit halved to RM5.26 million from RM12.02 million while revenue fell 6.28% to RM288.19 million.
Unisem said the lower earnings for 3Q compared with 2Q were due to lower sales volume and higher unrealised foreign exchange losses.
Unisem yesterday ended unchanged at RM1.26 with 496,000 shares traded.
This article appeared in The Edge Financial Daily, November 2, 2011.
In a filing with Bursa Malaysia yesterday, Unisem said net profit for its third quarter (3Q) ended Sept 30 plunged 89.77% to RM5.26 million from RM51.53 million a year ago. Revenue was down 22% to RM288.2 million in the same period.
In the notes to its financial results, Unisem said the lower turnover and earnings were mainly due to the weaker US dollar to ringgit exchange rate in the 3Q and lower sales volume for its products.
“The directors expect demand for the group’s products and services to remain weak for the next quarter (4Q) ending Dec 31 due to global economic uncertainty,” Unisem said.
Pre-tax profit similarly fell 96% to RM2.21 million from RM55.63 million while revenue declined 22.25% to RM288.19 million from RM370.69 million.
Earnings per share was 0.78 sen while net assets per share was RM1.61.
For the cumulative nine months, net profit dropped 84.14% to RM22.38 million from RM141.21 million. Revenue slid 16.21% to RM887.68 million from RM1.059 billion a year ago.
Quarter-on-quarter, Unisem’s net profit halved to RM5.26 million from RM12.02 million while revenue fell 6.28% to RM288.19 million.
Unisem said the lower earnings for 3Q compared with 2Q were due to lower sales volume and higher unrealised foreign exchange losses.
Unisem yesterday ended unchanged at RM1.26 with 496,000 shares traded.
This article appeared in The Edge Financial Daily, November 2, 2011.
