XMH Holdings, a diesel engine, propulsion and power generating solutions firm, posted a 23.2 per cent drop in third-quarter earnings as revenue shrank.
Net profit for the three months to Jan 31 came in at $766,000, down from $998,000 in the same period a year earlier.
Revenue slid 27.5 per cent to $19.5 million due to lower turnover from the project business segment, which was affected by weak market sentiment and smaller contract value awarded, although this was partially offset by improved sales from the distribution business segment.
Earnings per share was 0.69 cent compared with the adjusted 0.88 cent previously. Net asset value per share was 61.34 cents as at Jan 31, against 62.43 cents as at April 30 last year.
"With the offshore marine markets expecting a prolonged downturn, reduced capital expenditure and consolidation remain the ongoing theme," XMH said. "Consequently, intense competition persists across the industries that the group operates in."
Vicplas International yesterday reported lower half-year earnings amid a dip in revenue.
Net profit for the six months to Jan 31 slid 17. 5 per cent to $1.7 million as revenue fell 18.2 per cent to $32.5 million, dragged down by lower contribution from both the medical devices as well as the pipes and pipe fittings segments.
Earnings per share came in at 0.33 cent, lower than the 0.42 cent previously. Net asset value per share was 11.51 cents as at Jan 31, compared with 11.72 cents as at July 31 last year.
The firm has proposed an interim dividend of 0.25 cent per share, unchanged from previously.
Losses widened for digital storage products and services provider Datapulse Technology in the second quarter.
The group yesterday announced a net loss of $698,000 for the three months ended Jan 31 - from a restated net loss of $580,000 in the same period a year earlier. Revenue fell 39.2 per cent to $2.9 million on weaker demand for media storage products and services.
The group posted a net loss per share of 0.32 cent, compared with the net loss per share of 0.26 cent previously. Net asset value per share climbed to 23.91 cents as at Jan 31, compared with 21.57 cents as at July 31 last year.
It said: "Operating environment in the media storage industry continues to be challenging."