Astro All Asia Sees Earnings Turnaround

Astro All Asia announced its earnings and guess what? There's some earnings! LOL!

A turnaround of net earnings of 34.5 million only equated to an eps of 1.78!

LOL! What's the price of Astrol All Asia today?

Oh of course, many will be quick to tell me that no one values Astro All Asia based on earnings per share. Now that's true and you can also guess why.

Anyway from the company's earnings notes.

• For the current quarter, Group revenue decreased to RM751.9m from RM774.6m, whilst EBITDA was lower to RM161.4m from RM177.9m in preceding quarter. However, the Group achieved significant improvement in its performance by registering a net profit of RM34.5m compared to a net loss of RM28.9m in preceding quarter. This was largely due to lower cost recorded in the current quarter in relation to costs of cessation of the DTH business proposal in Indonesia and expenses previously incurred in its development (1QFY10: RM4.3m, 4QFY09: RM46.2m), and lower net finance costs of RM22.1m.