Thursday, 3 May 2012

Unisem shares fall on 1Q loss

KUALA LUMPUR (May 3): UNISEM (M) BHD [] shares retreated on Thursday after it posted net loss RM13.52 million for the first quarter ended March 31, 2012 compared with net profit RM5.09 million a year earlier.

At 9.28am, Unisem fell five sen to RM1.41 with 208,500 shares done.

It said on Wednesday that revenue for the quarter fell to RM256.61 million from RM291.97 million in 2011.

Unisem attributed the declines in its revenue and profit to reduced sales volume, a one-time retrenchment costs of RM5.7 million arising from a efficiency/redundancy exercise at PT Unisem and higher depreciation charges.

Loss per share was 2.01 sen compared to earnings per share of 0.75 sen previously.

Net assets per share was RM1.56.

On its outlook, Unisem said it expects its revenue and earnings in the second quarter to improve from that achieved in the first quarter and to continue to improve to the end of the financial year.

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