Micro-Mechanics Holdings Ltd. Reports Unaudited Group Earnings Results for the Third Quarter and Nine Months Ended March 31, 2013; Provides Operational Guidance for the Fourth Quarter of 2013 and Cap-Ex Guidance for the Fourth Quarter and Fiscal Year of 2013
For the nine months, the company reported revenue of SGD 28,390,783 against SGD 28,449,203 a year ago. Profit from operations was SGD 4,719,104 against SGD 3,946,658 a year ago. Profit before taxation was SGD 4,719,104 against SGD 3,946,658 a year ago. Profit after tax was SGD 3,588,989 against SGD 2,863,777 a year ago. Net profit for the period was SGD 3,588,989 or 2.58 cents per fully diluted share against SGD 2,863,777 or 2.06 cents per fully diluted share a year ago. Net cash from operating activities was SGD 6,896,333 against SGD 4,980,654 a year ago. Purchase of property, plant and equipment was SGD 2,379,577 against SGD 3,188,321 a year ago. Net Asset Value as on March 31, 2013 per ordinary share was 26.23 cents against 16.08 cents a year ago.
For the fourth quarter fiscal year 2013, business visibility remains clouded by numerous global uncertainties. The semiconductor industry is expected to register a modest single-digit recovery rate in 2013. Together with increasing cost challenges, the operating environment is likely to stay challenging. For the fourth quarter, the company expects to spend about another SGD 0.5 million,
For the fiscal year 2013, the company expects the total capital expenditure to be about SGD 3.0 million.