Nera Telecoms rings in two-fold rise in Q2 net profit to $10.5 million

A sparkling performance from the telecom business lifted second quarter net profit at Nera Telecommunications by two folds to $10.5 million from $3.3 million in the same period last year.

Revenue for the three months to June 30 was up 13.1 per cent to $47.2 million.

The increase resulted from higher turnover from telecom business segment partially offset by lower turnover in infocomm business segment, Nera said.

Telecom's turnover increased significantly by 75.5 per cent from $11 million to $19.3 million during the quarter.

On the other hand, infocomm's turnover declined by 9.1 per cent to $27.9 million.

Earnings per share grew to 2.9 cents from 0.92 cent previously while net asset value per share firmed to 18.68 cents compared to 18.2 cents as at Dec 31.

An interim dividend of two cents a share was declared, down from four cents last year.