SINGAPORE - Nera Telecommunications said its first quarter net profit fell by about a third to $3 million from $4.6 million previously.

Turnover for the three months to March 31 was up 3.6 per cent at $42.1 million, as higher turnover from the infocomm business segment was partially offset by lower turnover from the telecom business segment.

Revenue from the infocomm segement increased 26.8 per cent to $34 million, thanks to higher sales in both the network infrastructure and payment solutions businesses.

Turnover from the telecom business fell by 41.6 per cent to $8.1 million, mainly due to lower sales in both Asia Pacific and Middle East/Africa markets.

However, gross profit slumped by 9.2 per cent, mainly due to higher proportion of equipment sales.

Gross margin percentage consequently declined from 38.2 per cent to 33.5 per cent.

Earnings per share slipped to 0.84 cent from 1.27 cents previously while net asset value per share firmed to 17.6 cents compared to 16.84 cents as at Dec 31.