Venture Corp's Q2 net profit up 11.6%

SINGAPORE - Strong growth in the networking and communications, and test and measurement segments contributed to a rise in electronics manufacturer Venture Corp's net profit for the second quarter.

Earnings for the three months ended Jun 30 came in at $33.5 million, an increase of 11.6 per cent over the corresponding period last year.

The company registered revenue of $601.1 million for the second quarter, a slight increase of 2.3 per cent over last year.

This was mainly due to the test and measurement, medical, and others segment, which registered revenue growth of 18.4 per cent over last year.

The firm's networking and communications business also grew 4.6 per cent in the quarter.

However, these were offset by declines in the other segments.

Revenue from computer peripherals and data storage declined 17.9 per cent over the same period last year, while the retail store solutions, industrial products and printing and imaging businesses also took a hit.

Earnings per share was 12.2 cents for the second quarter, up from 10.9 cents in the corresponding period a year ago.

Net asset value per share was 633.8 cents as of June 30, down from 664.9 cents on Dec 31 last year.