Manufacturing Integration stems red ink, will be profitable for 2014

SINGAPORE - The board of directors of Manufacturing Integration Technology said that after a preliminary assessment, it believes the group has returned to profitability from its loss position in 2013.

"This is in line with the prospect statement disclosed in the half year results for the period ended 30 June 2014," the company said in a statement.

"We also wish to add that the expected levels of sales and profitability are comparable to the peak levels achieved in the company's history as a Singapore Exchange-listed company."

The anticipated sales and profit growth, particularly in the second half year, was mainly due to the successful introduction of its new series of vision scanning solutions and sales of its high-end die sorters.

Further, the delivery of 24 units of solar equipment and contract equipment manufacturing sales also boosted bottom line.

The company is in the process of finalising the group's results ended Dec 31 and the final results will be announced on Feb 26.