Datapulse Tech gets off to good start with Q1 jump in earnings

SINGAPORE - Datapulse Technology's first quarter net profit rose by 150.5 per cent to $3.9 million.

Revenue for the three months to Oct 31 was up 31.6 per cent at $12.6 million, attributed mainly to higher level of business activities and new product launches by customers, leading to higher sales of Blu-Ray media storage products and services and cards printing products and services.

This was partially offset by weaker sales for DVD media storage products and services.

Other income was higher due to higher interest income.

Earnings per share firmed to 0.59 cents from 0.26 cents previously while net asset value per share climbed to 7.84 cents compared to 7.25 cents as at July 31.

Datapulse said revenue for the first quarter was encouraging for sales of Blu-Ray media storage products and Cards printing products but challenging for sales of DVD media products and services.

The group will continue to focus on increasing its revenue base through an expansion of its customer base and providing more value added services to its customers and controlling its operating costs by improving yield and production efficiencies.

It will also be keeping a close tab on the technological and business developments within the media storage industry and explore other investment and business opportunities.

Datapulse will actively re-define its strategies and operating processes, and deploy its resources to effectively keeping tab with the changes in its operating environment.

This month, a portion of the proceeds raised from the issuance of shares to Lian Beng Grou, amounting to about $2.82 million had been remitted to the group's associate, Goldprime Realty.

The funds are intended to be used for a property development project in Australia.