Tuesday, August 25, 2009

A Quick Look At Uchi's Earnings.

I last wrote on Uchi's earnings in May 2009: A Quick Look At Uchi's Latest Earnings

On the broader picture, things not looking good eh?

However, on the q-q basis, let me give credit. There are some improvement. ( comparison table is
here )


update: the local press just loves to highlight the 'improvement'. :)

Uchi Tech 2Q earnings improve from previous quarter

  • Uchi Tech 2Q earnings improve from previous quarter
    Written by Jenny Ng
    Tuesday, 25 August 2009 20:55

    KUALA LUMPUR: Penang-based UCHI TECHNOLOGIES BHD saw earnings and sales pick up in the second quarter ended June 30, 2009, from the preceding quarter although compared to last year, the group still experienced a contraction.

    Compared to the previous corresponding quarter, revenue and net profit declined by 33.4% and 71.6% to RM22.4 million and RM4.7 million, respectively, in the second quarter. Meanwhile, profit before tax contracted 71.2% to RM4.9 million.

    However, on a sequential basis, the group's revenue and net profit increased 23.3% and 68.4% from respectively, RM18.1 million and RM2.7 million in the first quarter ended March 31, 2009.

    For the six-month period, revenue fell 42.4% to RM40.5 million from RM70.4 million a year ago while net profit shrank 78.7% to RM7.4 million from RM35 million.

    In notes to the financial statement, the group said it recognised realised foreign exchange losses amounting to RM8.9 million for the two quarters. It added that the recognition of such exchange losses shall not recur in the rest of this year.

    According to the group, lower sales volume is expected for the current financial year in line with the global economic slowdown, leading to lower financial results too. No dividends were declared.