KUALA LUMPUR (Nov 2): Shares of UNISEM (M) BHD [] fell on Wednesday as investors were disappointed with the weak third quarter results, which saw earnings tumble by nearly 90% to RM5.27 million.
At 9.49am, it was down six sen to RM1.20. There were 2.11 million shares done at prices ranging from RM1.18 to RM1.22.
On Tuesday, Unisem reported earnings fell 89.7% to RM5.27 million in the third quarter ended Sept 30, 2011 from RM51.53 million a year ago. Its revenue fell 22.2% to RM288.19 million from RM370.69 million.
CIMB Equities Research said it was maintaining its Underperform call on Unisem following the results, which it described were a “letdown” and the outlook was not expected to improve.
The poor demand and low utilisation were the de-rating catalysts.
At 9.49am, it was down six sen to RM1.20. There were 2.11 million shares done at prices ranging from RM1.18 to RM1.22.
On Tuesday, Unisem reported earnings fell 89.7% to RM5.27 million in the third quarter ended Sept 30, 2011 from RM51.53 million a year ago. Its revenue fell 22.2% to RM288.19 million from RM370.69 million.
CIMB Equities Research said it was maintaining its Underperform call on Unisem following the results, which it described were a “letdown” and the outlook was not expected to improve.
The poor demand and low utilisation were the de-rating catalysts.
